Neighborhood Stabilization Program

Neighborhood Stabilization Program

County of Summit Neighborhood Stabilization Program
Amendment to 2008 Annual Action Plan
Community Development Block Grant Action Plan

The Neighborhood Stabilization Program was authorized under Title III Division B of the Housing and Economic Recovery Act of 2008 (HERA) which was authorized on July 30, 2008. This special allocation of Community Development Block Grant Funds is to be used to address the critical problem of foreclosed, abandoned and vacant properties. Neighborhood Stabilization Program resources are being made available by the U.S. Department of Housing and Urban Development (HUD) on a formula basis to cities, counties and states. HUD has allocated $3,767,144 directly to the County of Summit. The following 2008 Annual Action Plan Amendment is the basis for the County of Summit Neighborhood Stabilization Plan.

Activity	NSP Allocation
Non-Profit Purchase/New Construction	$500,000
Non-Profit Purchase/Rehab/Re-Sell	$782,500
Non-Profit/Bank Partnership for Lease Purchase	$700,000
Land Banking	$589,930
Local Community Agreements	$800,000
Administration and Planning	$374,714
TOTAL	$3,767,144