Neighborhood Stabilization Program 2 -- Habitat for Humanity Int'l 1
Neighborhood Stabilization Program 2
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New Milwaukee houses partially funded by the Neighborhood Stabilization Program 2. The houses are part of an effort to restore communities that suffered greatly from the foreclosure crisis.
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About the program:
Stabilizing neighborhoods is the primary purpose of the Neighborhood Stabilization Program.
The program was introduced in 2008. At that time, the United States housing market had collapsed and neighborhoods all across the U.S. were declining rapidly as the number of foreclosed or abandoned homes rose dramatically.
History of our involvement:
Congress authorized the initial round of Neighborhood Stabilization Program funds for states and municipalities only. Habitat for Humanity’s involvement with the program began in May 2009, when the U.S. Department of Housing and Urban Development opened the second round of funding to nonprofits.
What the funds are used for:
Habitat is partnering with seven U.S. affiliates in five states to purchase and rehabilitate foreclosed or abandoned homes and build new homes on vacant lots. Habitat must provide significant financial and in-kind donations from nongovernment sources. NSP2 funds do not cover all project costs. Habitat and its partner affiliates have committed to providing 1,062 families or individuals with affordable housing by February 2013, the end of the grant term.
Helpful links:
For more information:
Contact Jack Bridges, NSP2 program manager, at 404-962-3433.