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Wisconsin Neighborhood Stabilization Program (NSP) The new Neighborhood Stabilization Program will provide emergency assistance to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment and blight within their communities. The program is authorized under Title III of the Housing and Economic Recovery Act of 2008. HUD is treating Neighborhood Stabilization Program funds as a special allocation of Fiscal Year (FY) 2008 CDBG funding. Neighborhood Stabilization funds can be used to purchase foreclosed or abandoned homes and to rehabilitate, resell, or redevelop these homes in order to stabilize neighborhoods and stem the decline of property values of neighboring homes. View the timeline for the NSP program.
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NSP SUBSTANTIAL AMENDMENT DRAFT
Enter your email address and click "Subscribe" to receive information and updates regarding NSP in your inbox. The Substantial Amendment was submitted to HUD on November 26. The Substantial Amendment describes the process that will be used to determine the areas of greatest need, the distribution and eligible uses of NSP funds, the state and federal regulations and policies applicable to funded activities, and the expected outcomes and benefits to low-, moderate-, and middle- income families. Commerce anticipates that HUD will review and approve the Substantial Amendment by Mid-January. NSP APPLICATION TRAINING SESSION/WEBCAST In early 2009, the State of Wisconsin will be awarding almost $38M in one-time funding for the Wisconsin Neighborhood Stabilization Program (NSP) for the acquisition, rehab/demo, and resale/rental/redevelopment/land banking of foreclosed and abandoned properties. To help potential applicants prepare their response to the Request For Proposals Commerce will release by mid-December, we are hosting a webcast on: Tuesday, December 9, 2008
To Participate:
Or, there will be limited onsite seating. Please limit onsite attendance to 1 person per agency, since seating is limited, and contact Joanna.Schumann@wisconsin.gov to check availability and register for onsite attendance. This facility is wheelchair accessible. Notify us if you need any special accommodations. ELIGIBILITY Eligible applicants for funding under the NSP program are:
ELIGIBLE ACTIVITIES All activities funded under the NSP program must be CDBG-eligible and must meet the CDBG low- and moderate-income national objective. Certain CDBG rules have been superseded to allow the eligible uses described under the Housing and Economic Recovery Act (HERA). This provision redefines and supersedes the definition of "low- and moderate-income" effectively allowing households with incomes up to 120% CMI (middle income) to qualify. The categories of eligible activities include:
CONTACT INFORMATION Information regarding NSP program will be posted to this website as it becomes available. LINKS CDBG-Entitlement Wausau Consolidated Plan CDBG-Superior Consolidated Strategy & Plan Department of Housing and Urban Development (HUD) Neighborhood Stabilization Program Grants website Wisconsin foreclosure data |
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