City officials on Wednesday welcomed the first home sold under the $18 million federal Evanston’s Neighborhood Stablization program.

Evanston’s NSP2 program, known as LiveEvanston, aims to rehabilitate 100 units of foreclosed or abandoned homes and is funded by the American Recovery and Investment Act of 2009, according to a city news release issued Wednesday.

“From foreclosures and gun violence to the rebirth of a neighborhood, it’s families moving onto the street and neighborhood groups like the Grey Street Neighbors that are making Grey Street ‘the place to live’ in Evanston,” said Ald. Delores Holmes (5th) in the news release.

The Department of Housing and Urban Development leads the $1.93 billion program to help stabilize neighborhoods that have been deeply affected by the effects of those properties. The homes are available for rental or sale to people whose incomes do not exceed 120 percent of the area’s median income.

Christopher and Jessie Meeks bought the home, located at 1704 Grey Street, for $200,000.

– Kimberly Railey