Rehabilitating Foreclosed Homes and Creating Jobs in Cheyenne

Rehabilitated Foreclosed home in Cheyenne, Wyoming

The funding for the Neighborhood Stabilization Plan (NSP) is being administered by the Wyoming Community Development Authority (WCDA.) They are Wyoming's housing finance agency. The majority of the funding is being used to purchase and rehabilitate foreclosed and/or abandoned single-family homes. They fully rehabilitate the homes and then sell them to qualified first-time homebuyers.

In Cheyenne, a local contractor, was awarded the contract to perform the rehabilitation work on some of the homes. Valley Construction owner Gerry Hammond reported he was able to utilize eleven of his employees on the rehabilitations last winter. Five of those employees would have been laid off due to the normally slower time during the winter months. Gerry stated, "It was very important to me and my business to keep those employees working through the winter. We have very good employees and if we would have had to lay them off, it would have been difficult to see the hardship on them and their families. The Neighborhood Stabilization Plan (NSP) program has enabled Valley Construction to employ additional workers and made it possible for the company to grow and remain financially sound. It is gratifying as well as satisfying to take a neglected home and turn it into an asset to the neighborhood as well as the community."

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