Neighborhood Services
Neighborhood Stabilization Program (NSP) 3Through the Housing and Economic Recovery Act (HERA) and the American Recovery and Reinvestment Act (ARRA), a total of $2 billion in NSP1 and NSP3 funds were provided to communities hardest hit by residential foreclosures and mortgage delinquencies.
After receiving $4.1 million of these funds in April of 2009, Neighborhood Services obligated the full amount in only 17 months and purchased 37 abandoned and foreclosed homes in Fiscal Year 2009/2010. Monies were used for down payments, closing costs and home repairs, which assisted families in purchasing foreclosed homes at a discount within targeted neighborhoods. Assistance of up to $50,000 per home was available.
In February of 2011, the City of Henderson was awarded an additional $3.9 million in NSP3 funds. These monies are being utilized to assist families in purchasing foreclosed homes at a discount within targeted neighborhoods. The funds can be used for down payments, closing costs and home repairs.
Contact our office at (702) 267-2000 or COHHousing@cityofhenderson.com for additional information.
Neighborhood Stabilization Program (NSP) grantees are required to submit
quarterly performance reports (QPR) to the U.S. Department of Housing and Urban
Development (HUD). View the QPRs
here.