Neighborhood Stabilization Program

From: HUD USER News
 
HUD's new Neighborhood Stabilization program (NSP)
provides emergency grants to state and local governments
to acquire and redevelop foreclosed properties that
might otherwise become sources of abandonment and blight
within their communities. These emergency funds are
provided through the Community Development Block Grant
Program under Title III of the Housing and Economic
Recovery Act of 2008. The funds can be used to purchase
and redevelop foreclosed homes, thus stabilizing
communities and preventing neighborhood decline.
 
To assist NSP grantees in implementing the program, HUD
has provided a website (www.hud.gov/nsp), which maps
state and local allocations, explains requirements of
eligible grantees, lists activities authorized under the
program, and provides other relevant program
information.
 
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