The U.S. Department of Housing and Urban Development announced in January 2010 that MDHA, in a consortium established with The Housing Fund, Urban Housing Solutions, and the Woodbine Community Organization, has been awarded nearly $30.5 million in new funding for the Neighborhood Stabilization Program (Round II). Nashville is the only city in Tennessee to receive an award in the highly competitive national program. The funding will be used for three primary activities:
- The purchase and rehabilitation of residential properties that have been abandoned or foreclosed.
- The establishment of a financing mechanism for low- to middle-income homebuyers of foreclosed properties.
- The redevelopment of vacant properties as housing.