Durbin: $98 Million in Recovery Act Funding Will Be Used to Put Chicagoans Back to Work and Mitigate Foreclosure Crisis

CHICAGO, IL – January 26, 2010 – (RealEstateRama) — U.S. Senator Dick Durbin (D-IL) today announced that the U.S. Department of Housing and Urban Development (HUD) has awarded the City of Chicago a Neighborhood Stabilization Program (NSP) grant in the amount of $98,008,384 through the American Recovery and Reinvestment Act. These grants are competitively awarded to local governments and non-profit housing developers to spur economic development and create jobs in hard-hit communities