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Neighborhood Stabilization Program

HUD’s Neighborhood Stabilization Program, authorized under Title III of the Housing and Economic Recovery Act of 2008, provides emergency assistance to state and local governments to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment and blight within their communities. The Neighborhood Stabilization Program (NSP) provides grants to every state and certain local communities to purchase foreclosed or abandoned properties and to rehabilitate, resell, or redevelop these properties in order to stabilize neighborhoods and stem the decline of house values of neighboring homes.

Under Section 1497 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, additional assistance under the Neighborhood Stabilization Program was authorized (NSP3).  South Dakota received an additional $5 million for NSP3 activities.

NSP3

NSP1

Important Links

Other NSP websites on foreclosed properties and strategies to mitigate foreclosures

E-mail Lorraine Polak, Director of Rental Housing Development, with your NSP questions.
Phone: (605)773-3108

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