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NSP
Neighborhood Stabilization Program
The Neighborhood Stabilization Program (NSP) is a federal program that was established for the purpose of stabilizing communities that have suffered from foreclosures and abandonment. Through the purchase and redevelopment of foreclosed and abandoned homes and residential properties, the goal of the program is being realized.

Under NSP1, as authorized under the Housing and Economic Recovery Act (HERA) of 2008, the City of San José received $5.6 million. Under NSP2, as authorized under the American Recovery and Reinvestment Act (ARRA) of 2009, the Housing Trust Fund of Santa Clara, the City of San José, and Neighborhood Housing Services Silicon Valley received $25 million.

In addition to purchasing, rehabilitating, and reselling foreclosed properties in targeted areas, NSP2 also provides secondary financing for income-eligible individuals. A minimum of 25% of the funds will be used to acquire and rehabilitate rental housing for individuals and families whose incomes do not exceed 50% of the area median income.

NSP Resources
For more information on the NSP Program please go to the HUD Exchange.

Letter to the U.S. Department of Housing and Urban Development dated March 4, 2015 from the Housing Trust requesting approval of a technical amendment to the Action Plan of its Neighborhood Stabilization Program 2 (NSP2).

Funded Projects
 Project Name Funding
Amount
Description  Contact
Taylor Oaks $5,505,000 Rehabilitation of 58-unit apartment affordable to
VLI and ELI families
Kristen Clements
Ford and Monterey (Special Needs Apartments) $3,000,000 New 20-unit apartment for persons with special needs Kristen Clements
Ford and Monterey (Family Apartments)  $1,770,000 New 74-unit apartment affordable to LI, VLI and ELI families Kristen Clements


For additional information on the NSP Program, contact Rahil Butt, Program Coordinator.

Previous NSP 1 & 2 HUD Quarterly Reports:
 Neighborhood Stabilization Program 1 Neighborhood Stabilization Program 2
  June 30, 2016 
   March 31, 2016
   December 31, 2015
  September 30, 2015 
 June 30, 2015 June 30, 2015
March 31, 2015  March 31, 2015 
  December 31, 2014 
  September 30, 2014 
June 30, 2014  June 30, 2014 
   March 31, 2014
 December 31, 2013 December 31, 2013 
   September 30, 2013

 September 30, 2013

 June 30, 2013
 March 31, 2013  March 31, 2013
 June 30, 2010  December 31, 2012
   September 30, 2012
   June 30, 2012
   March 31, 2012
   September 30, 2011
   June 30, 2011
   March 31, 2011
   December 31, 2010
   September 30, 2010
    June 30, 2010
   

Previous Action Plans in the Disaster Recovery Grant Reporting System (DRGR):
Amended September 2012 
February 2011 
Amended July 2010