Neighborhood Stabilization Program (NSP)

Overview

The Neighborhood Stabilization Program (NSP) was established for the purpose of providing emergency assistance to stabilize communities with high rates of abandoned and foreclosed homes, and to assist households whose annual incomes are up to 120 percent of the area median income (AMI).

The U.S. Congress appropriated three rounds of NSP funding. Congress has not allocated any additional funds to NSP since the third round of funding, and most grantees are in the process of completing activities and closing out their grants.

NSP 1 and 3

Documentation

• NSP 1 Implementation - November 18, 2008
  Program approval - see pages 5-74
  
  
• NSP 1 Substantial Amendment No.1 - April 27, 2010
  Adds Chapter 4 to expanding eligible activity areas and add down payment assistance as an eligible activity. See page 11 and select Attachment 3.
  
  
• NSP 1 Substantial Amendment No. 2 - September 18, 2012
  Adds Chapter 5 to provide options for disposal of an NSP acquired property in the City of Oakdale - see pages 98 - 101
  
  
• NSP 3 Implementation - February 15, 2011
  Program approval - see pages 6-50
  
  
• NSP 3 Substantial Amendment No. 1 - September 18, 2012
  Adds Appendix D to identify additional target areas - see pages 102 - 112
  
  
• NSP 1 Substantial Amendment No. 3, NSP 3 Substantial Amendment No. 2
  Adds demolition as an eligible activity.
• NSP 1 Substantial Amendment No. 4, NSP 3 Substantial Amendment No. 3
  Adds Oak Leaf Meadows multi-family affordable housing project and reallocation of funds.