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Neighborhood Stabilization Program (NSP1)

 

Communities across the country have been severely impacted by mortgage foreclosures and declining property values.  In response, Congress passed the Housing and Economic Recovery Act of 2008 which funded the Neighborhood Stabilization Program (NSP) to help revitalize and stabilize impacted communities. The purpose of NSP is to provide targeted assistance to state and local governments to acquire and redevelop foreclosed homes and residential properties that might otherwise become sources of blight within their communities.

Through the NSP, HUD has allocated $3.92 billion to communities nationwide of which $5,795,151 was allocated to the City of Santa Ana.  The City submitted their Substantial Amendment to U.S Department of Housing and Urban Development (HUD), which explains the programs to be implemented.  As a part of the City’s NSP, the City will be implementing five programs: Downpayment Assistant; Acquisition & Rehabilitation of Single Family Homes; Acquisition & Rehabilitation of Condominiums and Historic Homes; Acquisition & Rehabilitation of Rental Housing; and Redevelopment. For more information on the City's homeowership programs please click here.

 

Reporting and Transparency

 

With respect to reporting, Office of Management and Business (OMB) has issued detailed guidance on the requirements for recipients’ funds.  Recipients are required to report specified information to the Department of Housing and Urban Development (HUD) 30 days after the end of each calendar quarter through the Disaster Recovery Grant Reporting System (DRGR). This includes, but is not limited to a detailed list of all projects and activities for which funds were obligated or expended, an evaluation of the completion status of the project or activity, and an estimate of the number of jobs created or retained.  HUD has also identified a number of program-specific measures that will be collected through this reporting process.  HUD expects that the transparency requirements, specifically the requirement to publish both spending and recipient performance reports, will create accountability amongst its grantees.

Quarterly Progress Report - April 1 through June 30, 2009

Quarterly Progress Report - July 1 through September 30, 2009

Quarterly Progress Report - October 1 through December 31, 2009

 

The City also applied for NSP 2 funds created under the American Recovery and Reinvestment Act of 2009 (ARRA) to undertake homeownership and rental activities under the financing mechanism.  The City is requesting a total of $10,000,000 in NSP 2 funds.  For more information on the City's application please click here.

 

 

 
 
 
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