Neighborhood Stabilization Program

In 2008, the Neighborhood Stabilization Program (NSP) was established for the purpose of stabilizing communities that have suffered from foreclosures and abandonment. Through the purchase and redevelopment of foreclosed and abandoned homes and residential properties, the goal of the program is being realized. NSP1, a term that references the NSP funds authorized under Division B, Title III of the Housing and Economic Recovery Act (HERA) of 2008, provides grants to all states and selected local governments on a formula basis. The Network worked with national partners to help craft this legislation and hosted webinars to promote the inclusion of CLTs in NSP plans across the country.

In 2009, NSP2, a term that references the NSP funds authorized under the American Recovery and Reinvestment Act (the Recovery Act) of 2009, provides grants to states, local governments, nonprofits and a consortium of nonprofit entities on a competitive basis. The Recovery Act also authorized HUD to establish NSP-TA, a $50 million allocation made available to national and local technical assistance providers to support NSP grantees. The Network is working with CLTs and national partners to support the use of these funds by CLTs.

NSP2 Grantees and Award Summaries - released January 15, 2010

Articles about the Neighborhood Stabilization Program