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Neighborhood Stabilization Fund Resources
Federal Policy Brief | October 30, 2009
Files: PDF | 71 KB | 2 pages
The Neighborhood Stabilization Program (NSP) is a one-time infusion of funds from the Federal Government to cities and states. There were two such one-time infusions: once in 2008 for $3.9 billion and once in 2009 for $2 billion. Funds are targeted to communities that have high rates of foreclosure and vacant properties. In 2008, NSP grantees submitted a plan for how they would use the $3.9 billion appropriated by Congress for the program.
At least 25 percent of the funding must be used to provide housing, including permanent supportive housing, to people below 50 percent of area median income. This presents an important opportunity for housing and homeless assistance providers to use these grants to help create affordable housing, including supportive housing to prevent and end homelessness.
Please click on the PDF above for more information on how communities can use this opportunity to create permanent housing and permanent supportive housing for people experiencing or at risk of homelessness.
Following are links to important documents provided by HUD regarding NSP: