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Home > Government > City Departments > Economic & Housing Development > Neighborhood Stabilization 2 Program
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Neighborhood Stabilization 2 Program
Neighborhood Stabilization Program Overview
The City of Newark submitted an application on July 15, 2009 to the US Department of Housing and Urban Development (HUD) for approximately $45,000,000 in Neighborhood Stabilization Program funds on behalf of a consortium of eighteen entities that includes Irvington, Orange, East Orange, Montclair, and Essex County. If the Consortium’s application is successful, the funds will be used to purchase and rehabilitate foreclosed and abandoned homes in target neighborhoods in the five participating municipalities. This page will be updated as more information becomes available about HUD’s funding allocation decisions.
Congress established the Neighborhood Stabilization Program (NSP) through the Housing and Economic Recovery Act of 2008 for the purpose of stabilizing communities struggling with foreclosures and abandonment by purchasing and redeveloping foreclosed and abandoned homes (NSP1). This program was extended by Congress through the American Recovery and Reinvestment Act of 2009, which provides grants to states, local governments, nonprofits or a consortium of eligible entities on a competitive basis (NSP 2). The US Department of Housing and Urban Development (HUD) allocated $1.93 billion for NSP 2 and released a Notice of Funding Availability on May 4, 2009. More information about the NSP2 program is available on the HUD website at: www.hud.gov/nsp.
Congress established the Neighborhood Stabilization Program (NSP) through the Housing and Economic Recovery Act of 2008 for the purpose of stabilizing communities struggling with foreclosures and abandonment by purchasing and redeveloping foreclosed and abandoned homes (NSP1). This program was extended by Congress through the American Recovery and Reinvestment Act of 2009, which provides grants to states, local governments, nonprofits or a consortium of eligible entities on a competitive basis (NSP 2). The US Department of Housing and Urban Development (HUD) allocated $1.93 billion for NSP 2 and released a Notice of Funding Availability on May 4, 2009. More information about the NSP2 program is available on the HUD website at: www.hud.gov/nsp.
Neighborhood Stabilization Program 2 Grant Application Information
Submitted to HUD by the City of Newark on behalf of the Newark/Essex NSP2 Consortium on July 15, 2009
Submitted to HUD by the City of Newark on behalf of the Newark/Essex NSP2 Consortium on July 15, 2009
NOTICE TO
NEWARK /ESSEX COUNTY RESIDENTS
PROPOSED
NEIGHBORHOOD STABILIZATION 2 PROGRAM
On or about July 17th 2009, the City of Newark will submit to the U. S. Department of Housing and Urban Development (HUD) an application under the Neighborhood Stabilization 2 Program (NSP2). The application will be submitted on behalf of a regional consortium to conduct eligible activities in the following communities: Newark, Irvington, East Orange, Orange, and Montclair. In addition, consortium members will include Brand New Day Community Development Corporation; Episcopal Community Development Corporation; Housing and Neighborhood Development Services, Inc. (HANDS); Make It Right, Inc.; Ironbound Community Corporation; Unified Vailsburg Services Organization; Don Pedro Development Corporation; Fairmount Heights Development Corporation; The Michaels Development Company; Homes of Montclair Ecumenical Corp (HOMECorp); Community Loan Fund of NJ, Inc and RPM Development Group. The application entails activities consistent with the requirements of the American Reinvestment and Recovery Act of 2009 (ARRA) (Public Law 111-005, Recovery Act) for additional activities under Division B, Title III of the Housing and Economic Recovery Act of 2008 (Public Law 110-289) (HERA), as amended, which allows the Consortium the ability to support reinvestment in the targeted areas and/or neighborhoods as identified in the application as census tracts: 41, 42, 54, 89, 91, 93, 171, 172,13, 14, 17, 23, 25, 68,108, 62, 183,184,186, 187, 189,129, 131 & 132, within the official tax map of Essex County, NJ. The application includes approximately 616 units and a total of approximately $40,000,000.
The proposed application will be made available for public comments ending July 10th, 2009.
For further information, please contact:
Simone Flores
Contracts Manager
Department of Economic and Housing Development
(973) 733-6237
