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Neighborhood Stabilization Program

The purpose of the Neighborhood Stabilization Program is to assist communities that have been, or are likely to be affected by foreclosures, while providing affordable rental and homeownership opportunities to households at or below 120% of Area Median Income. Delaware State Housing Authority (DSHA) was allocated $19.6 million in Neighborhood Stabilization Program 1 (NSP1) funding by the U.S. Department of Housing and Urban Development (HUD).
A second round of NSP funding was made available by HUD in May of 2009. DSHA agreed to be the lead applicant in developing a statewide application for NSP2 funding. New Castle County, Kent County, Sussex County and the City of Wilmington all worked with DSHA to develop the application and will be the recipients of NSP2 funding if the application is funded. DSHA is taking comments on this proposal from July 2, 2009 - July 13, 2009. See NSP_2 information below


Delaware Analysis of Impediments to Fair Housing Choice NSP_1

NSP_2

Application

HUD Information

Delaware State Housing Authority Information

Forms

Additional Information

Information about mechanisms for ensuring long-term affordability can be found at the following web links. These sites may be helpful to those considering submitting an NSP application.

Preservation of Affordable Homeownership: A Continuum of Strategies. National Housing Conference, 2007. Rick Jacobus and Jeffrey Lubell.
This policy brief reviews different affordability restriction structures and mechanisms, and advantages and disadvantages of different strategies.

Delivering on the Promise of Inclusionary Housing: Best Practices in Administration and Monitoring. PolicyLink, 2008. Rick Jacobus.
While this publication is specifically written about homes created through inclusionary housing programs, these best practices apply to administration any programs that involve monitoring long-term affordability controls.

Shared Equity Homeownership: The Changing Landscape of Resale-Restricted, Owner-Occupied Housing. National Housing Institute, 2006. John Emmeus Davis.
This publication is a comprehensive guide to the full spectrum of issues around long-term affordability restrictions for owner-occupied housing.


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Last Updated: Tuesday, 27-Apr-2010 13:07:29 EDT
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