Neighborhood Stabilization Programs

On July 26, 2008 Congress passed bill H.R. 3221 commonly referred as the Housing and Economic Recovery Act of 2008. Under this section, $3.92 billion is set aside to provide emergency assistance for the redevelopment of abandoned and foreclosed homes. Congress also indicated in the bill that the U.S. Department of Housing and Urban Development (HUD) would establish the formula allocation and fund "States and units of general local government with the greatest need, as such need is determined in the discretion of the Secretary".  Louisiana Housing Coporation Administers the 34,183,994 allocation.

The Neighborhood Stabilization Program will provide emergency asistance to state, nonprofits, and local governments to purchase, rehabilitate, and redevelop vacant, foreclosed or abandoned homes that might otherwise become blighted properties within their communities.

 NSP will be regulated under HUD’s existing Community and Development Planning through Community Development Block Grant (CDBG). 

HUD has established the following eligible funding uses under NPS Properties:

  1. Establish financing mechanism for purchase and redevelopment of foreclosed upon homes and residential properties, including soft-seconds, loan loss reserves, and shared-equity loans for low, moderate and middle income homebuyers;

  2. Purchase and rehabilitate homes and residential properties that have been abandoned or foreclosed upon, in order to sell, rent, or redevelop such homes and properties;

  3. Establish land banks for homes that have been foreclosed upon;
  4. Demolish blighted structures and;

  5. Redevelop demolished or vacant properties.

Action Plan Amendment No. 4 (7/9/12)
Amendment # 4 Expanded Census Tracts List (7/9/12)
NSP Substantial Amendment Number 3 (08/26/10)
Action Plan Amendment No. 2 (06/22/12)
NSP Purchase Discount Amendment (10/29/09)
NSP Procedures for Allocation of Funds (04/09/09)
NSP Procedures for Allocation of Funds  Attachment A (04/09/09)
Attachment B Llist of 2009 NSP Awards (04/09/09)
LA Approved NSP Substantial Amendment (11/14/08)
Neighborhood Stabilization Program - Lender's Forum - PPT (10/31/08)
OCD - Neighborhood Stabilization Program - Strategy
OCD - Neighborhood Stabilization Program - Action Plan
OCD - Neighborhood Stabilization Program - Stakeholder's Meeting (PPT)
State Foreclosure Map (Requires Adobe Flash Player, availbale for download at the bottom of this page)
Neighborhood Stabilization Program - Links to Maps (Require Adobe Reader, available for download at the bottom of this page):
East Baton Rouge Parish LogrecNO
East Baton Rouge Foreclosure Risk
Caddo Parish LogrecNO
Caddo Foreclosure Risk
Calcasieu Parish LogrecNO
Calcasieu Foreclosure Risk
Claiborne Parish Logrecno
Claiborne Foreclosure Risk
Franklin Parish LogrecNo
Franklin Foreclosure Risk
Iberia Parish LogrecNo
Iberia Foreclosure Risk
Morehouse Parish LogrecNo
Morehouse Foreclosure Risk
Orleans Parish LogrecNo
Orleans Foreclosure Risk
Ouachita Parish LogrecNo
Ouachita Forclosure Risk
Rapides Parish LogrecNo
Rapides Foreclosure Risk
Tangipahoa Parish LogrecNo
Tangipahoa Foreclosure Risk
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