Enterprise Congratulates Recipients of NSP2 Funds
On January 14, U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan announced HUD is awarding $2 billion in Recovery Act funding to states, local governments and nonprofit housing developers, under the agency’s Neighborhood Stabilization Program (NSP). Enterprise Community Partners commends its partners and all recipients NSP2 funding. The goal of the program is to spur economic development in hard-hit communities and create jobs. In total, 60 grantees will receive awards. Read the news release (PDF, 21K).

Enterprise Awarded NSP Funding
In August, 2009, Enterprise was awarded $7.1 million under a national contract In August 2009 through HUD to provide technical assistance for the Neighborhood Stabilization Program (NSP). One of the ways we will provide support through this contract is by utilizing the services of consultants who have expertise in a wide range of NSP-related areas. We are compiling a consultant roster in cities all across the country. Download more information. (Word 840K)

A Solutions-Based Response to the National Foreclosure Crisis
Enterprise has played a critical role in addressing the national foreclosure crisis by driving public attention and vital resources to the potential decline of whole neighborhoods as well as the crisis’s devastating impact on individual homeowners and families.

Enterprise’s response to the foreclosure crisis has been guided by our long and extensive experience with HUD’s Asset Control Area program, returning foreclosed homes to productive use and confronting the destabilizing effects of concentrations of foreclosures. This experience led us to quickly adopt a multi-pronged foreclosure response strategy. We are working at the national level to create policies and partnerships that support local efforts. At the same time, we have joined our longtime national partners to develop and implement community stabilization programs in local markets across the country. Our efforts are symbiotic – local experience informs national policy and partnership efforts, while national policy changes and partnerships provide local programs with the tools and resources to achieve results on the ground.

Enterprise's local and national foreclosure-prevention work helps hard-working families, like the Rosarios, keep their homes. Photo: Gary Landsman

Communities are threatened by the mortgage foreclosure crisis and the impact of concentrated foreclosures. Enterprise is working on programs and policies to protect the communities we serve. 

• Impact of concentrated foreclosures on communities: How concentrations of real estate owned (REO) properties are a blight in communities.
• Enterprise’s National Community Stabilization Initiatives
• Enterprise’s Local Community Stabilization Initiatives and Examples of Enterprise’s Work in Local Markets: Supporting the creation and implementation of local initiatives for stabilizing communities with significant concentrations of foreclosed homes in key Enterprise markets.
• Neighborhood Stabilization Program (NSP) Plans Analyzed: Based on a review of sample Neighborhood Stabilization Program plans, Enterprise researchers have compiled a national snapshot of how the program’s funds will be used and a set of promising program approaches.
• Developing and Advocating Public Policies that can significantly contribute to community stabilization.
• Green Rehab Strategies for REO Properties.