Neighborhood Stabilization Program

SD Housing / Develop Housing / 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.

2018 NSP Applicants

Applications are due the last working day of August at 5:00 p.m. Central Time. Completed applications must be delivered (via U.S. Postal Service, private mailing service, or hand delivery) to SD Housing by 5:00 p.m. Central Time on the applicable due date. Applications via facsimile or e-mail will NOT be accepted.

$700,000 available