These renovated properties come with a one year home warranty and are eligible for down payment assistance. Find award and allocation amounts for grantees by year, program, and state. 2020 US Department of Housing and Urban Development, 120 percent of the area median income (AMI), Section 2301(b) of the Housing and Economic Recovery Act of 2008 (Pub. (Download), Powered by Daley Technology Systems (DTS), Neighborhood Stabilization Program (NSP) Application/Substantial Amendment, Notice of Proposed Substantial Amendment to the NSP (11/ 2011), Notice of Finding of No Significant Impact and Notice of Intent to Request Release of Funds, NSP-3 Substantial Amendment to the 2010-11 Action Plan and 2009-2014 Consolidated Plan, NSP3 Notice of Proposed Substantial Amendment to the NSP (09/2012). the city limits of Cocoa and Rockledge. NSP3, a term that references the NSP funds authorized under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) of 2010, provides a third round of neighborhood stabilization grants to all states and select governments on a formula basis. Households at or below 120% of Area Median Income (AMI), with a priority to veterans are eligible to purchase an NSP home. The City of Hemet has been allocated $2,888,473 of the NSP funds in order to deal with the foreclosure problems in our community. Request in-depth assistance with implementing a HUD-funded program. Join our mailing list to stay up to date and get the latest Press Releases and Newsletters. Congress created the Neighborhood Stabilization Program to help cities, counties and states deal with community problems that are the result of the mortgage foreclosure crisis in the nation. How the Neighborhood Stabilization Program (NSP) Works. NSP2, a term that references the NSP funds authorized under the American Recovery and Reinvestment Act (the Recovery Act) of 2009, provides grants to states, local governments, nonprofits and a consortium of nonprofit entities on a competitive basis. Neighborhood Stabilization Program (NSP) NSP1. Overview of NSP eligible activities and beneficiaries, Tools and sample documents for program implementation, Closeout criteria, process, and post-closeout requirements, Laws, Regulations, and Federal Register Notices, Recovery from Crisis: Stories and Strategies from NSP Video Series, 2020 US Department of Housing and Urban Development, Recovery from Crisis: Stories and Strategies from NSP, HUD NSP Policy Alert: Clarification of Requirements for QPRs, CPD Funding Matrix and Dashboard Reports Posted, DRGR Release 7.17 Additional Fact Sheet On Voucher Supporting Documentation Available, HUD Publishes Monthly NSP Expenditure Report, New Grants Management Page on the HUD Exchange, CPD Income Eligibility Calculator Updated with FY 2020 Income Limits, DRGR Release 8.1 Fact Sheets Now Available. Resources

Program Overview. Contact the Neighborhood Partnership Housing Services, Inc., for more details. HUD Neighborhood Stabilization Program (NSP) Requirements Summary of Notice Published in the Federal Register The Housing and Economic Recovery Act of 2008 (HERA) became law on July 30, 2008.

Ask a basic policy or reporting system question. Directory | There are Browse the library of grantee reports and plans, organized by program. Note: this may take additional time.

If you need the document(s) in an alternate format for accessibility purposes (e.g. NSP Resource Exchange is a one-stop shop for the information and resources needed by NSP grantees, subrecipients and developers to purchase, rehabilitate, and resell foreclosed properties. Available Documents.

See NSP Grantee Contacts page for details. L. 111–5, approved February 17, 2009), Section 1497 of the Wall Street Reform and Consumer Protection Act of 2010 (Pub. NSP3 provided an additional $1 billion on a formula basis to 270 state and local governments. The following documents are available to the public via Public Records Request. L.110–289, approved July 30, 2008), also known as HERA. All rights reserved. The U.S. Department of Housing and Urban Development’s new Neighborhood Stabilization Program (NSP) provides targeted emergency assistance to states and local governments to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment and blight within their communities. From the $2.0 billion in NSP2 funds, the Recovery Act also authorized HUD to establish NSP-TA, a $50 million allocation made available to national and local technical assistance providers to support NSP grantees. The U.S. Department of Housing and Urban Development’s Neighborhood Stabilization Program (NSP) provides funds to states and local governments to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment and blight. Florida. These funds were allocated to communities across the country to help them address the home foreclosure problems prevalent in many areas. NSP1 provided $4.0 billion to 307 state and local governments on a formula basis.

However, NSP grantees must use at least 25 percent of the funds appropriated for the purchase and redevelopment of abandoned or foreclosed homes or residential properties that will be used to house individuals or families whose incomes do not exceed 50 percent of the area median income. HERA created NSP and was the basis for subsequent NSP funding rounds. or in Section 508 compliant format please note that (Download), Notice of Proposed Substantial Amendment to the NSP (11/ 2011)

These funds will be used to develop affordable housing within specific target areas outlined the following amendment and application data.

The U.S. Congress appropriated three rounds of NSP funding. Activities may not qualify under NSP using the "prevent or eliminate slums and blight" or "address urgent community development needs" objectives. Resources and assistance to support HUD's community partners. Lee County buys foreclosed homes in target areas at below appraised value, then rehabilitates properties into desirable homes. Lee County buys foreclosed homes in target areas at below appraised value, then rehabilitates properties into desirable homes. Limited Clientele Activities: Serving a limited clientele whose incomes are at or below 120% of area median income. L. 111–203, approved July 21, 2010), View a list of NSP grantees and grantee expenditures to date, Recovery from Crisis: Stories and Strategies from NSP Video Series, Establish financing mechanisms for purchase and redevelopment of foreclosed homes and residential properties, Purchase and rehabilitate homes and residential properties abandoned or foreclosed, Establish land banks for foreclosed homes, Redevelop demolished or vacant properties.

Hemet's NSP program is designed to assist the city's areas that have been most affected by abandoned and foreclosed homes by acquiring and rehabilitating foreclosed single-family properties and selling these often blighted homes to income eligible home buyers earning up to 120% AMI.

Browse the library of grantee reports and plans, organized by program. Lee County then sells the home to qualified homebuyers, providing a soft second mortgage and reasonable closing cost assistance to help subsidize buyer costs.