Neighborhood Stabilization Program (NSP2)

In January 2010, HACP was awarded $20 million in NSP2 funding. The funding was utilized in 13 targeted census tracts that have been impacted by high foreclosure and vacancy rates, population loss and high unemployment. The grant guidelines included a deadline to expend all funds by 2013, which was completed. HACP utilized the funds to:

• Purchase and rehabilitate 46 abandoned or foreclosed properties
• Demolish 100 blighted structures
• Redevelop 80 of the demolished/vacant lots as new construction home ownership (30 units) and rental (50 units) housing
• Develop a land bank operation to maintain 170 vacant properties for future development
• Ensure that the beneficiaries of all funded activity are at or below 125% of AMI, and that 25% of the funds are directed to households at or below 50% of AMI
• Employ energy efficiency and green building strategies in all construction activities.

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