Seminars offer information about the NSP program and application process
The Illinois Department of Human Services (IDHS) today said two additional workshops will be held for potential applicants interested in learning more about the Neighborhood Stabilization Program (NSP). As home foreclosures across the nation and state
reach record levels and abandoned and foreclosed homes threaten the stability and economic health of Illinois neighborhoods, last month, IDHS announced the signing of the agreement for the Neighborhood Stabilization Program with the US Department of
Housing and Urban Development (HUD). The State of Illinois Neighborhood Stabilization Program (NSP) will provide $53 million in emergency assistance to local governments, developers, and non-profit organizations to acquire, redevelop, or resell
foreclosed properties that might otherwise become sources of abandonment and blight within their communities.
As the lead agency, IDHS will work in partnership with the Illinois Housing Development Authority (IHDA), the Illinois Department of Commerce and Economic Opportunity (DCEO) and affordable housing advocates to help redevelop communities and address
the housing needs of the State's most vulnerable residents.
To create awareness of the NSP program, the State will host two additional workshops where potential applicants can learn about the NSP program and application process.
9:30 a.m. to 5:00 p.m.
James R. Thompson Center
100 West Randolph St.
Chicago, IL 60601
Room: Assembly Hall
9:30 a.m. to 5:00 p.m.
State of Illinois Office Building
200 South Wyman Street
Rockford, IL 61101
Illinois' efforts under the Neighborhood Stabilization Program will help reinvigorate distressed neighborhoods by providing funds to address foreclosed and abandoned properties that can be rehabilitated for resale, converted into affordable housing
and related uses. Grantees can also create financing products to help low- to-moderate-income homebuyers purchase an abandoned and foreclosed home, namely persons with incomes of 120 percent of the area median income as defined by HUD.
The federal Housing and Economic Recovery Act of 2008 was signed into law on July 30, 2008. Among its incentives is the Neighborhood Stabilization Program, a one-time funding program to provide emergency assistance to state and local grantees to
address abandoned and foreclosed homes. The legislation authorizes up to $3.9 billion nationally for the acquisition, rehabilitation, and demolition of foreclosed and abandoned properties and will help communities to eliminate blight, control crime and
stabilize property values.
The State is currently soliciting proposals for projects for the NSP program. Interested persons can access the complete Request for Proposals package from the State of Illinois Procurement Bulletin.
Eligible applicants include:
- Community Action Agencies,
- For Profit Developers and Organizations,
- Non-profit developers,
- Units of Local Government including Municipalities,
- Counties and Housing Authorities.
The application deadline is May 4th, 2009 at 5:00 pm. For more eligibility information, potential applicants can visit the NSP website.