Neighborhood Stabilization Stimulus Program (Competitive)

Program Description

Neighborhood Stabilization Program (NSP), round 2. Competitive grants awarded for activities eligible under division B, title III of the Housing and Economic Recovery Act of 2008 (Public Law 110-289, NSP round 1), to address home foreclosure and abandonment and for the provision of capacity building and support for NSP grantees. Rating factors will include grantee capacity to execute projects, leveraging potential, and concentration of investment to achieve neighborhood stabilization. Grantees must expend at least 50 percent of each grant within 2 years and 100 percent within 3 years of grant award. HUD may run two competitions - one addressing the provision of technical assistance (not to exceed $50 million) and one to provide programmatic funding for grantees (remainder of funding).

The Catalog of Federal Domestic Assistance number for this program is 14.256.

Process for Making Awards

HUD must issue Notices of Funding Availability (NOFA) with application requirements no later than May 3, 2009. Applicants will prepare an application and, for programmatic funding, complete citizen participation before submitting to HUD. Applications will be due to HUD not later than 150 days after enactment. HUD will review applications and make awards shortly thereafter.

Eligible Applicants

Eligible applicants are states, units of general local government, nonprofit entities, and consortia of nonprofit entities, which may submit proposals in partnership with for profit entities.

Funding Amounts

Total Funding: $1,980,000,000
Total Funds Allocated:
Total Funds Obligated:
Total Funds Expended: