NSP1 funds have ALL been expended for NSP buyer-driven, downpayment, and rehabilitation assistance. Please check back in the fall of 2010 for information on NSP2 funding.
NSP Cities/Development Partners - Properties Available under NSP1
NSP1 cities and/or their development partners have homes available for purchase. The homes have buyer assistance attached to them under a separate budget.
Additional information on the NSP funded properties is available:
Background
The U.S. Department of Housing and Urban Development's (HUD) new Neighborhood Stabilization Program (NSP) provides emergency assistance to states and local governments for the redevelopment of abandoned and foreclosed homes. The focus of this program is the purchase, management and resale of foreclosed and abandoned properties for the purpose of stabilizing neighborhoods. The program was authorized under Title III of Division B of the Housing and Economic Recovery Act of 2008.
Hennepin County, as the lead agency of the Urban Hennepin County Community Development Block Grant (CDBG) Program, has received an allocation of $3,885,729 from HUD under NSP. In addition, Hennepin County submitted a competitive NSP application to Minnesota Housing Finance Agency (MN Housing) and was awarded $4,715,298.
Both awards required the County to complete the NSP Plan and an amendment to the Hennepin County Consortium 2008 Action Plan, prepared in accordance with the consolidated plan procedures for a substantial amendment. The County also entered in an NSP Grant Agreement with MN Housing.
A Tier I environmental assessment for the NSP was prepared and it was determined that these funds would not create a significant impact on the environment. This allowed Hennepin County to post and publish a Notice of Finding of No Significant Impact on the Environment.
