Friday April 16, 2004
Mayor Jerry Abramson today unveiled a $2 million revitalization plan for Newburg – a comprehensive housing program designed to increase home ownership rates, property values and opportunities for young people in the historic suburb.
“Today, we’re demonstrating our commitment to turning this neighborhood around,” Abramson said. “The result of our efforts will be a better, safer Newburg. And it’s my hope that Newburg will become a model that we can replicate in other areas throughout our community.”
Abramson outlined the major programs in the initiative during a news conference this morning in Newburg:
· About $1 million will be devoted to rehab loans for about 40 homes in the neighborhood
· About $400,000 is being set aside for forgivable loans for the purchase of a new home
· Funding will be set aside for grants for roof repairs and the construction of handicapped ramps
· About two-dozen homes will be built along Brenda Drive in Newburg on five acres of land that will be given to a non-profit housing corporation for development
· More than a dozen vacant homes will be purchased and resold to developers who will renovate and resell them to first-time homebuyers
With a focus on rehabilitating existing homes, Louisville Metro government has partnered with YouthBuild Louisville, a program that helps troubled teens and young adults rebuild their lives. The teens in the current YouthBuild class will be taught construction and rehabilitation skills, and the organization has committed to recruiting teens from the Newburg area for next year’s class.
In addition, Louisville Metro government housing officials also held two informational fairs this week at the Newburg Community Center for community-wide recruitment and training of minority-owned construction contractors. Information also is available regarding rehab and down payment assistance loan programs for Newburg residents.
The Louisville Urban League also has pledged to maintain a presence in the neighborhood, staffing an office three days a week to ensure that residents in the neighborhood have access to information about the housing program.
And, as part of the Corridors of Opportunity in Louisville (COOL) program, Strickland Shopping Center, on Poplar Level Road, also received a $113,000 façade loan to improve the retail center and attract more business back to the major retail artery of the Newburg area.
The Newburg revitalization announcement coincides with the federal Department of Housing and Urban Development’s celebration of 30 years of Community Development Block Grants (CDBG), which has been a major funding source for many programs geared toward low- and moderate-income families. The Newburg revitalization program is funded with CDBG funds.