Neighborhood Stabilization Program

 

On July 30, 2008, the Housing and Economic Recovery Act of 2008 was signed into law to address the nation's severe housing crisis. Title III of the Act appropriates $3.92 billion of grant funds under the Neighborhood Stabilization Program (NSP) for states and local governments to purchase and redevelop abandoned or foreclosed properties.   

The Housing and Economic Recovery Act of 2008 directed the United States Department of Housing and Urban Development (HUD) to target funding to areas with the greatest needs based on the extent of foreclosures, subprime mortgages, and mortgage delinquencies and defaults. As part of the NSP allocations made to governments throughout the State of Florida, the City of Miami was awarded approximately $12.06 million. All grantees were required to file a Substantial Amendment to the Action Plan with HUD indicating how they planned to use their NSP funding to stabilize their community's hardest hit neighborhoods, based on the guidelines established for the program. The City of Miami's  approved Substantial Amendment to the Action Plan was updated on December 17, 2009.   To see the final Substantial Amendment filed by the City, please click here. 

All activities funded by NSP must benefit low- and moderate-income persons whose income does not exceed 120% of area median income.  Please click here, to see a breakdown of 120% area median income for the City of Miami, based on the household size.

The City of Miami's approved implementation plan for the NSP program including allowable uses of NSP funds was updated on December 17, 2009.   To see the City's final implementation plan for the NSP please click here.  

For questions concerning the NSP Miami Program please call 305-416-2080. or email us at:  

NSP Multi-Family - NSPmultifamily@miamigov.com

NSP Single Family - NSPsinglefamily@miamigov.com  

UPDATE

Neighborhood Stabilization Program Single Family Infill Housing Program  

The Single Family Infill project consists of the redevelopment and building of thirteen (13) new construction single family homes throughout the City of Miami on City owned lots.  The homes are part of the City's Federal Neighborhood Stabilization Program (NSP) strategies and will be made available to eligible low- and moderate- income families who qualify as having up to 120% of the area's median income (AMI) as defined by the U.S. Department of Housing & Urban Development (HUD). Please see chart below defining the maximum income limits based on family size. For more information click here.

Application period is closed for this program.

Housing Resources

NSP Information