Neighborhood Stabilization Program
Lt. Governor Becky Skillman has announced 21 communities and community organizations will share $50 million to buy abandoned or foreclosed homes, demolish or redevelop vacant properties and help low- and moderate income homebuyers purchase property.
Neighborhood Stabilization Program Rules from the Federal Register
| Summary of Allocations (NSP1) | INDIANA |
| MUNCIE | $2,007,356 |
| ANDERSON | $2,141,795 |
| KOKOMO | $2,181,088 |
| ELKHART | $2,251,346 |
| HAMILTON COUNTY | $2,343,868 |
| EVANSVILLE | $3,605,204 |
| GARY | $3,836,758 |
| HAMMOND | $3,860,473 |
| SOUTH BEND | $4,098,521 |
| LAKE COUNTY | $5,738,024 |
| FORT WAYNE | $7,063,956 |
| INDIANAPOLIS | $29,051,059 |
| INDIANA STATE PROGRAM | $83,757,048 |
| TOTAL | $151,936,496 |
On December 1, 2008, IHCDA finalized an amendment to it's Action Plan to include activities regarding the NSP. The changes that were proposed are included in the link below:
IHCDA Eligible Communities Map
NEW - NSP3 NOTICE
“IHCDA has determined that NSP3 funding awarded to the agency as the balance of state allocation will be offered via a Request for Proposals to a restricted number of existing NSP awardees. In making this decision, IHCDA has considered that the allocation of funding was much smaller than for NSP1, and thus provided less scope for a wider competitive process. Additionally, with the new targeting requirement from HUD that requires a more focused approach, building on the back of NSP1 offered a better opportunity for demonstrating the levels of impact that HUD are expecting to see. Furthermore, with a tight timescale for the implementation of NSP3 (50% of all funding needs to be expended within 2 years) a state-wide Request for Proposals would have severely compromised the ability of potential awardees to meet the deadlines for expenditure. Accordingly, IHCDA will be hold a competitive allocations process that will allow only those non-entitlement communities who received NSP1 funding to seek NSP3 funding. Applications from these communities are due to be received by IHCDA on January 31st 2011.”
