Through the Recovery Acts, a total of $2 billion in NSP1 and NSP3 funds were provided to communities hardest hit by residential foreclosures and mortgage delinquencies.
Neighborhood Stabilization Program (NSP) 1
After receiving $4.1 million of these funds in April of 2009, Neighborhood Services obligated the full amount in only 17 months. Homebuyers were assisted with up to $50,000 per home and funds were used for down payments, closing costs and home repairs. During Fiscal Year 2009/2010, a total of 37 homebuyers purchased foreclosed or abandoned homes at a discount within targeted neighborhoods in Henderson using this program.
Neighborhood Stabilization Program (NSP) 3
In February of 2011, the City of Henderson was awarded an additional $3.9 million in NSP3 funds. The funds can be utilized to assist families in purchasing foreclosed and short-sale homes at a discount within targeted neighborhoods and 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