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 homeownership programs.
Neighborhood Stabilization Program 2 (NSP 2)
The American Recovery and Reinvestment Act of 2009 (ARRA) provided additional funding for NSP activities to states, local governments, non profits, and a consortium of nonprofit entities on a competitive basis. An application was submitted by City staff on July 16, 2009 to the U.S Department of Housing and Urban Development (HUD) for these additional NSP funds. The City was awarded $10 million to undertake the same activities/programs as NSP 1.
The programs are:
- Downpayment Assistance
- Acquisition and Rehabilitation of Single Family Homes
- Acquisition and Rehabilitation of Rental Housing
Neighborhood Stabilization Program 3 (NSP 3)
The U.S. Department of Housing and Urban Development (HUD) has allocated the amount of $1,464,113 in NSP 3 funds to the City of Santa Ana through the Frank-Dodd Act. To receive these funds the City adopted a substantial amendment which was submitted to HUD on February 28, 2011. The City will be implementing the following programs:
- Acquisition/Rehab/Resale-50 Percent of Area Median
- Acquisition/Rehab/Resale-120 Percent of Area Median
Recipients of NSP funds 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. The following are the reports that have been submitted: