HOLLISTER
California has been slated to receive $529 million of $4 billion in federal dollars in a “neighborhood stabilization” program designed to relieve the effects of high rates of foreclosure in counties and large cities.
The list of allocated funds released by the US Department of Housing and Urban Development, commonly referred to as HUD, does not include San Benito County due to its small population. This county, currently ranked as the seventh hardest hit of California’s 58 counties in the foreclosure crisis, will receive some of the federal funds, but the amount will not be determined until at least the end of the week.
Small counties, referred to by HUD as unentitled or metro areas, receive funds from a lump sum that is set aside and then apportioned by the California Department of Housing and Community Development, known as the HCD.
“Our intent is to partner with the HCD to give non-metro counties their money,” said Cynthia Abbott, director of the Sacramento HUD office. “COG works with HCD and HCD works with your Hollister planning and development agencies.”
