Requesting approval to submit a substantial amendment to the 2008 Hidalgo County Urban County Program One Year Action Plan to include Land Banking in its Neighborhood Stabilization Program (NSP) under the Housing and Economic Recovery Act.

Activities being currently undertaken with NSP funds include (a)establishment of financing mechanisms for the purchase and redevelopment of foreclosed homes and residential properties, (b)purchase and rehabilitation of homes and residential properties abandoned or foreclosed, (c)demolition of blighted structures, (d)redevelopment of demolished or vacant properties, and (e) administration and planning costs.

This amendment will allow for the inclusion of LAND BANKING, which is an eligible use under HERA.  The UCP will continue to meet the National Objective in benefiting low, moderate and middle income households at or below 120% of the area median income, as well as work in the areas of greatest need within the County of Hidalgo.

A draft copy of the NSP substantial amendment was made available for review for a fifteen (15) - day comment period beginning on April 20, 2010 and ending on May 5, 2010. The NSP substantial amendment was also posted on the Hidalgo County website for public view.  A Public Hearing was held on May 11, 2010 at the Hidalgo County Commissioners’ Court. No comments were received.