Enterprise and our partners worked with Congress in 2008 to establish funds to address the growing number of vacant and foreclosed properties. In response, Congress allocated nearly $4 billion for the Neighborhood Stabilization Program (NSP) in the Housing and Economic Recovery Act of 2008 and an additional $2 billion in the 2009 stimulus bill. NSP is a new federal program designed to give localities grant funds to reduce the harmful effects foreclosed properties have on local neighborhoods.
Enterprise issued a report based on a review of a sample of the NSP action plans submitted by states and cities for the first round of NSP funding. There are two sections of the report:
- A compilation of promising program approaches, as identified in NSP action plans. The promising approaches were identified so that they can be shared with localities to build better local programs.
- A national snapshot of how NSP funds will be used. The report distills information from 87 NSP action plans to provide a statistical overview of how localities are planning to use their funds.
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New Enterprise research analyzes the Neighborhood Stabilization Program. See how communities are using the funds to recover from the foreclosure crisis and learn about the most promising approaches.
Read the report. (PDF, 742KB) |
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