Neighborhood Stabilization Program

HUD NEWS RELEASES

- July 12, 2010: FHA Announces First Look Initiative To Help Communities Stabilize Neighborhoods Hard-Hit By Foreclosure

- July 6, 2010: HUD Expands Neighborhood Stabilization Program In Cuyahoga County

HUD's new Neighborhood Stabilization Program (NSP) provides targeted emergency assistance to State and local governments to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment and blight within their communities.

The NSP provides grants to every State and certain local communities to purchase foreclosed or abandoned homes and to rehabilitate, resell, or redevelop these homes in order to stabilize neighborhoods and stem the decline of house values of neighboring homes. The program is authorized under Title III of the Housing and Economic Recovery Act of 2008.

Link to the Neighborhood Stabilization Program Resource Exchange

Neighborhood Stabilization Program Target Areas

• Welcome to NSP Training (ppt/544kb)
• Establishing the Context: Eligible Uses, Eligible Activities (ppt/692kb)
• Eligible Properties, Income Rules, Pre-Acquisition Considerations (ppt/872kb)
• Post-Acquisition Considerations, Financing Issues, Q & A (ppt/748kb)
• Program Administration (ppt/921kb)
• Land Banking and Demolition (ppt/729kb)
• Disaster Recovery Grant Reporting (DRGR) System (ppt/2mb)
• NSP Hot Topics and Resources on the Web (ppt/709kb)