Wisconsin Department of Commerce: Wisconsin Neighborhood Stabilization Program (NSP) -

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Wisconsin Neighborhood Stabilization Program (NSP)

The Neighborhood Stabilization Program provides 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.

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ELIGIBILITY

44 applicants submitted proposals for $108 million in funding under the NSP program they include:

Local units of government, including CDBG Entitlements and HOME Participating Jurisdictions;
Federally-recognized American Indian tribe or band in the state of Wisconsin;
Nonprofit corporations organized under Chapter 181;
Housing Authorities.

Eligible applicants will have experience in property acquisition and/or rehabilitation/redevelopment utilizing federal funding.

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 Certain CDBG rules have been superseded to allow the eligible uses described under the Housing and Economic Recovery Act (HERA).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:

Applicant purchase and rehabilitation of homes and residential properties that have been abandoned or foreclosed upon, in order to sell, rent, or redevelop such homes and properties for eligible households;
Direct down payment/gap financing assistance to eligible homebuyers purchasing a foreclosed property;
Establishment of land banks for foreclosed homes in neighborhoods where property stabilization is required;
Demolition of blighted structures;
Redevelopment of sites;
Delivery costs, including: establishing financing mechanisms for purchase and redevelopment of eligible properties.

GENERAL PROGRAM INFORMATION

NSP Quarterly Progress Reports (QPR)

NSP QPR (April 1-June 30, 2009)
NSP QPR (July 1-September 30, 2009)

DOCUMENTS & FORMS

Activity Set-up (Revised 8/21/09)
Completion Report (Revised 10/09)
Completion Report Instructions (Revised 10/09)
HUD Housing Quality Standards (HQS) Inspection Form
Request for Payment (Revised 8/21/09)

ENVIRONMENTAL REVIEW FORMS

CONTACT INFORMATION

For information regarding the NSP program contact Kate Blood at (608) 264-7838.

LINKS

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