The City of Camden Redevelopment Agency ("CRA") was awarded $11.9MM in NSP 2 funds for the purchase and redevelopment of abandoned or foreclosed homes or residential properties, returning a minimum of 100 abandoned or foreclosed homes back to productive use. Activities carried out under the NSP2 Program include land banking, demolition of blighted structures, providing grants/loans for housing redevelopment and closing costs for NSP 2 property purchasers, and housing counseling services within seven targeted Census Tracts.
Areas of need and targeted geographies include Census Tract 6002 Gateway, 6003 Cooper Plaza/Lanning Square, 6007 Coopers Poynt, 6008 Pyne Point, 6011.02 Rosedale, 6012 Stockton, and 6013 Marlton. The NSP 2 funds have been allocated to the following eligible categories; 10% of NSP2 grant or $1,192,689 for administration, $7,629,198 for purchase & rehabilitate residential properties that have been abandoned or foreclosed upon for sale or rent, $75,000 for Housing Counseling, $350,000 for Closing Cost Assistance, $2,370,000 for Landbanking and property disposition, and $310,000 for Demolition.
CRA's NSP 2 application was supported by the City of Camden, State Department of Treasury, Housing and Mortgage Finance Agency, and Economic Development Authority; institutional anchors included Cooper Health Systems, Rutgers and Rowan Universities, and the Campbell's Soup Company; and the Non-Profit housing development community.
Evaluation Neighborhood Stabilization Program 2