	Community Planning and Development
	Economic Development
	Programs
		Community Renewal
		Economic Development Initiative
		Brownfields Economic Development Initiative
		Youthbuild
		Rural Housing and Economic Development
		Section 108
		Section 4 Guarantee Recovery Fund
		Congressional Grants
	HUD news
	Homes
	Resources
	Communities
	Working with HUD
	Tools
	Webcasts
	Mailing lists
	RSS Feeds
	Help

Information on how HUD’s Neighborhood Stabilization Program can Benefit Empowerment Zones and Renewal Communities


	Information by State Print version

HUD's new Neighborhood Stabilization Program (NSP) will provide targeted emergency assistance of $3.92 billion to all states and particularly hard-hit areas to respond to the effects of high foreclosures and abandonments. Not less than 25 percent of the grantee’s funds must be used for the purchase and redevelopment of abandoned or foreclosed homes or residential properties that will be used to house individuals or families whose incomes do not exceed 50 percent of area median income. It is worthwhile to focus on Empowerment Zones and Renewal Communities as places where conditions are favorable for meeting the 25 percent requirement.

All eligible grantees must do the following:

By November 15, 2008, grantees must publish and post their proposed NSP Substantial Amendments to their websites for the required 15-day public comment period.
Grantees must submit a substantially complete Substantial Amendment by December 1, 2008

HUD encourages potential grantees to review the NSP Instructions for Grantee Submissions and the NSP Guide for Eligible Uses.

For more information, please visit HUD’s NSP website at
http://www.hud.gov/offices/cpd/communitydevelopment/programs/neighborhoodspg/.

Content current as of 21 November 2008

	FOIA	Privacy	Web Policies and Important Links	Home
	U.S. Department of Housing and Urban Development 451 7th Street S.W., Washington, DC 20410 Telephone: (202) 708-1112 TTY: (202) 708-1455 Find the address of a HUD office near you