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Neighborhood Stabilization Program (NSP)
NSP Comprehensive Neighborhood Revitalization Fund Award Recipients
Please click here to view a listing of all award recipients
Neighborhood Stabilization Program Rules from the Federal Register
As part of the Housing and Economic Recovery Act of 2008, HUD created the Neighborhood Stabilization Program to mitigate the neighborhood effects of foreclosures in areas of greatest need. HUD allocated more than $150 million to the Indiana grantees listed below.
| 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.”
Contacts
Click here to access a listing of Production and Compliance Real Estate contacts