The Neighborhood Stabilization Program (NSP) will provide funds 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. The program is authorized under Title III of the Housing and Economic Recovery Act of 2008.
The Division of Community Services requested $19.6 million in NSP funds. The state's plan for distribution of the NSP funds is available for public review.
The plan is outlined in a substantial amendment to the state's 2008 Annual Action Plan, which serves as the state's grant application to the U.S. Department of Housing and Urban Development of the Community Development Block Grant, HOME, and Emergency Shelter Grants programs.
If you have questions, please contact Bonnie Malo at 701-328-2476.