The Neighborhood Stabilization Program (NSP) was created to help stabilize and revitalize communities hit the hardest by the housing market collapse. NSP funded the acquisition and rehabilitation of abandoned and foreclosed properties, which were often left in poor condition resulting in significant neighborhood blight, and an increase in property related crimes.
The establishment of the Housing Economic Recovery Act of 2008 (HERA), provided $3.92 billion of NSP funding to states and local governments; the American Recovery and Reinvestment Act of 2009 (Recovery Act), which appropriated an additional $2 billion in NSP funding, and with the establishment of the Dodd-Frank Wall Street Reform and Consumer Protection Act, an additional $1 billion in NSP funding was provided to states and local governments..
The City of Vallejo was awarded $2.6M of NSP 1 funds and $1.7M of NSP 3 funds.
Substantial Amendment
Regulations
Areas Of Greatest Need