Citi Gives $2.75m for Neighborhood Stabilization Programs

In a press release yesterday, The Citi Foundation announced a $2.75 million grant to the Housing Partnership Network, and specifically to fund their Innovations in Neighborhood Stabilization and Foreclosure Prevention Initiative:

"The initiative will provide leading community-based housing organizations with grants and other resources to support high-impact neighborhood revitalization projects that can yield important lessons and be replicated in communities across the country.

The grant awards will fund 10 different neighborhood stabilization initiatives over a two-year period, and will be managed by 12 HPN member organizations. Two of the grants have a national focus, while the others target specific communities that have been heavily impacted by mortgage delinquency and foreclosure."