Database of Neighborhood Stabilization Program 3 (NSP3) Plans

Learn how other states and localities are planning to use their NSP3 money
 
On September 8, 2010, the U.S. Department of Housing and Urban Development (HUD) announced the allocation of $1 billion in Neighborhood Stabilization Program 3 (NSP3) grants to States and to Community Development Block Grant (CDBG) entitlement communities particularly hard hit by home foreclosures. These funds are to be used for state and local governments to acquire, redevelop, or demolish foreclosed properties.  The funds were made available through the Dodd-Frank Wall Street Reform and Consumer Protection Act.
 
The funds were awarded on a formula basis.  The formula considered the amount of foreclosures and vacancies in areas with the highest shares of subprime lending, mortgage delinquency, and foreclosures.  The minimum grants to states were $5 million, and the minimum grants to entitlement communities were $1 million. To receive its funds, each grantee was required by the U.S. Department of Housing and Urban Development to submit an action plan as a substantial amendment to its current consolidated plan.
 
See the plans