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Neighborhood Stabilization Programs

The Neighborhood Stabilization Program (NSP) is a federal program that provides funding to help communities that have suffered from foreclosures and abandonment. In 2008, the City of San José received $5,628,283 in funding from NSP1, which provided grants to states and selected local governments on a formula basis.  The City, through a consortium with the Housing Trust of Silicon Valley and Neighborhood Housing Services Silicon Valley, also received a $25 million competitive award from NSP2.

As a requirement of receiving these funds, the City must submit quarterly reports that highlight the amount of funds expended, the number of jobs wholly or partially funded with the grant, and a status of the various activities funded.