Categories: General
      Date: Jul  1, 2009
     Title: HUD's New Neighborhood Stabilization Program

 HUD's New Neighborhood Stabilization Program

The Department of Housing and Urban Development's (HUD) new Neighborhood Stabilization Program will provide emergency assistance to state and local non-profit agencies to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment and blight within their communities.

The Neighborhood Stabilization Program (NSP) provides grants to non-profit agencies 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. The program is authorized under Title III of the Housing and Economic Recovery Act of 2008. The housing authority is requesting a minimum of 5,000,000 .00 from HUD to assist in stabilizing neighborhoods in the city. HUD requires the consortium to submit a formal application.  Please review The New Jersey NSP Consortium Neighborhood Stabilization Program and provide comments and feedback to:

L. Wayne Lartigue, Executive Director, Trenton Housing Authority

Email:  jrgibson@tha-nj.org