Neighborhood Stabilization Program

The Neighborhood Stabilization Program (NSP) was established for the purpose of stabilizing communities that have suffered from foreclosures and abandonment. Through the purchase and redevelopment of foreclosed and abandoned homes and residential properties, the goal of the program is being realized.

NSP is a component of the Community Development Block Grant (CDBG). The CDBG regulatory structures the platform used to implement NSP and the HOME program provides a safe harbor for NSP affordability requirements.

NSP grantees develop their own programs and funding priorities. However, NSP grantees must use at least 25 percent of the funds appropriated for the purchase and redevelopment of abandoned or foreclosed or residential properties that will be used to house individuals or families whose incomes do not exceed 50 percent of the area median income. In addition, all activities funded by NSP must benefit low- and moderate-income persons whose income does not exceed 120 percent of area median income. Activities may not qualify under NSP using the "prevent or eliminate slums and blight" or "address urgent community development needs" objectives.

NSP funds may be used for activities which include but are not limited to:

  • Establish financing mechanisms for purchase and redevelopment of foreclosed homes and residential properties;
  • Purchase and rehabilitate homes and residential properties abandoned or or foreclosed;
  • Establish land banks for foreclosed homes;
  • Demolish blighted structures;
  • Redevelop demolished or vacant properties

Click here to view the draft NSP Application or here to view a map of the general Areas of Greatest Need submitted to the Department of Community Affairs on April 6, 2009.

Click here to view the draft Neighborhood Stabilization Program 2 Application due to HUD on July 17, 2009.

Click here to view a map of the ares that NSP 2 will focus on.

 

Applications are available at 437 N. 7th Street. All applicants must first be approved by one of our participating lenders from the St. Lucie County Lender's Consortium prior to sheduling an appointment. Upon the application you must also attend a first time homebuyer workshop click here for the current schedule of available classes.

Please contact Diana Wesloski for more information.

Phone: (772) 462-1290

Fax: (772) 462-2855

St. Lucie County Community Services

Housing Division

437 N. 7th Street

Fort Pierce, FL 34950

Email: comm_info@stlucieco.org

All information included in these pages is subject t change and/or revision without notice.

 

 

 

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