The Neighborhood Stabilization Program 3 (NSP3) is part of the federal Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The intent of NSP3 is to assist in the redevelopment of abandoned and foreclosed homes in specific geographical areas.

The eligible uses of the NSP3 funds include financing mechanisms for purchase and redevelopment of foreclosed upon homes and residential properties; purchase and rehabilitation of homes and residential properties that have been abandoned or foreclosed upon in order to sell, rent or redevelop; demolishment of blighted structures; and redevelopment of demolished or vacant properties.

Eligible applicants are units of local governments, nonprofit organizations and for-profit developers. SDHDA views the Neighborhood Stabilization Program as an opportunity to provide additional funding to the state of South Dakota to accomplish housing goals that may not typically be eligible or financially feasible under our current housing programs.

The NSP3 Program application and maps of eligible areas are available on SDHDA’s website at www.sdhda.org

For more information on the NSP3 Program, please contact Peggy Severson at This e-mail address is being protected from spambots. You need JavaScript enabled to view it or call 605.773.3181.

Applications must be received by March 30, 2012, at 5:00 p.m. (CST).

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South Dakota Housing Development Authority is an independent, quasi-public agency that finances and develops affordable housing opportunities for low and moderate-income residents throughout South Dakota.  SDHDA is totally self-supporting and receives no tax money, appropriations or other funding from the State.  SDHDA does not discriminate against any person because of race, color, creed, religion, sex, disability, familial status or national origin.  For more information, visit www.sdhda.org.