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Neighborhood Stabilization Program II

Program (?) Neighborhood Stabilization Program II
Abbreviation NSP II
Program Description

The Neighborhood Stabilization Program II (NSP II) was a competitive grant program authorized under the American Recovery and Reinvestment Act of 2009 (ARRA). NSP II provided grants to states, local governments, non-profit organizations, and public/private partnerships to ameliorate conditions in neighborhoods affected by foreclosures and abandoned properties. New York City received a $20.1 million allocation of the federal funds from HUD with a plan centered on the acquisition and rehabilitation of 320 foreclosed units, as well as the redevelopment of 320 vacant sites. These efforts were to benefit homebuyers within very low-income to moderate-income households, with 25 percent of the funds reserved for households with incomes up to 50 percent of AMI. 

In addition to the award to HPD, two other New York City housing agencies received NSP funding in Round 2: Habitat for Humanity New York was awarded $10.5 million and Community Builders received an award of $5.5 million.

Benefit Classification (?)  
Supply or Demand Supply
One-Time or Ongoing One-Time
Benefit Type (?) Grant
Government Agency (?) US Dept of Housing and Urban Development
Program Information (?)  
Scale Small Scale (between 1 and 999 units produced)
Developer/Owners (?) Non-Profit, Government
Property Information (?)  
Property Occupancy Vacant
Property Type Building
Building Type Multi-family, One- to Four-family
Construction Type Rehabilitation, New Construction
Occupant Tenure (?) Rental, Homeownership
Occupant Income Restrictions (?) Very Low-Income, Low-Income, Moderate-Income
Other Targeting Information (?)

Neighborhoods with high foreclosure risk scores

More Information NYC HPD
US HUD (PDF)
Available on CoreData.nyc? No

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