In response to the drastic increase in foreclosures and the impact of the subprime lending environment on housing, Congress authorized the Neighborhood Stabilization Program under Title III of the Housing and Economic Recovery Act of 2008. The new entitlement program is provided to currently funded grantees and states of the U.S. Department of Housing and Urban Development (HUD) that receive Community Development Block Grant (CDBG) funds. As a direct recipient of other HUD community development entitlement programs the City of Fresno was awarded $10.969 million of federal Neighborhood Stabilization Program funds.
The Neighborhood Stabilization Program (NSP) provides targeted emergency assistance to state and local governments to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment and blight within their communities. HUD’s direction to entitlement grantees is 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 of neighboring homes.
Below you will find general information regarding the Neighborhood Stabilization Program and resources that will enable agencies/companies to complete and submit an NSP Project Concept Paper.
Neighborhood Stabilization Program 3 (NSP3) Substantial Amendment
Amended Neighborhood Stabilization Program (NSP) Activities
NSP Substantial Amendment to the City of Fresno 2008-2009 Annual Action Plan and NSP Program Income Reuse Plan
Annual Action Plan
Neighborhood Stabilization Program
NSP Information Guide
This guide provides general information on
the program and eligible uses.
Federal Register Notice on the
Neighborhood Stabilization Program.
Data on Foreclosures
Map of Forclosures within the City of Fresno
HUD Resources for Homeowners
Hope for Homeowners