Introduction
HUD’s new Neighborhood Stabilization Program will provide 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 Neighborhood Stabilization Program (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.
Read HUD's news release.
Required Submissions for Eligible NSP Grantees
All eligible grantees must submit to HUD the following: (1) substantial amendment to the annual action plan; (2) an SF-424; and (3) signed certifications.
Grantees may use the NSP Grant Submission and Checklist (Updated), which includes a form for the NSP Substantial Amendment and certifications. For more information on submission requirements, grantees may visit the NSP Instructions for Grantee Submissions (Updated) and the NSP Guide for Eligible Uses.
State and Local NSP Allocations
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