HUDSON – Housing Resources of Columbia County, Inc. will be able to target foreclosed properties in the City of Hudson area and turn them into viable housing for low- to moderate-income families, because of a grant the agency has received.

HRCC has received funding through the state Housing Finance Agency for the Neighborhood Stabilization Program (NSP). That program is designed to address the foreclosure crises through neighborhood stabilization and revitalization. The funds can be used to purchase foreclosed, abandoned properties for the purpose of rehabilitation and resale to low- to moderate-income families.

Stephanie Lane, deputy director of the HRCC, said the goal is to purchase 10 units in the target area, primarily Hudson, affected by foreclosure, vacancy, and abandonment. “The program allows us to acquire, rehab and resell the properties in high-risk areas.”

When the rehabbing is completed, the units will be offered for resale or rental. Eligible families will be required to complete the Home Buyer Education curriculum offered by HRCC and will receive individual credit counseling to ensure that they are prepared for the responsibility of home ownership.

HRCC will target the City of Hudson with the NSP program because the area is considered a high risk for foreclosure.