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Neighborhood
Stabilization Program (NSP)
The federally funded Neighborhood
Stabilization Program (NSP) will assist state and local governments to
acquire and redevelop abandoned and foreclosed properties that might
otherwise become sources of abandonment and blight within their
community. The program will also provide funds to increase the
availability of affordable housing for households with incomes up to
120 percent of the area median income (AMI). The program is authorized under
Title III of the Housing and Economic Recovery Act of 2008 (HERA). NSP
funding amounts were determined by a formula established by HUD using
criteria specified by HERA.
The County of Volusia has received an
allocation of $5,222,831 for use in Volusia County, except for the
cities of Daytona Beach, Deltona and Port Orange, which are not
part of the county’s CDBG program. These funds will be utilized for
such things as:
- Purchase and rehabilitation of
abandoned and foreclosed homes to resell, rent or develop
- Homebuyer assistance, such as down
payment, closing costs and other financing mechanisms to eligible
homebuyers to purchase the homes
- Financing mechanisms to purchase and
redevelop abandoned and foreclosed homes
- Demolition of blighted structures
- Redevelopment of sites
- Delivery and administrative costs
NSP SUBSTANTIAL
AMENDMENT PLAN (HUD-APPROVED)
Volusia County’s plan for the NSP
was approved by the Volusia County Council Nov. 13, 2008, and
subsequently by the U.S. Department of Housing and Urban Development
(HUD) Jan. 15, 2009.
The county’s NSP will initially focus on four primary target areas
identified as having a very high rate of foreclosed and abandoned homes.
These target areas are portions of the cities and unincorporated county
areas of DeLand, Edgewater, Holly Hill and Orange City.
Click here for maps of each target area.
The county will select businesses and organizations over the next few
months through formal bid processes and requests for proposals to serve
in several partnership roles. Types of businesses that may be sought
include home inspection contractors, real estate brokers, rental
property developers and managers, and property managers. If you are
interested in being notified as these bids become available, you should
register through the County of Volusia purchasing and contracts
division’s
Vendor Registration Form process. You also can visit
the purchasing and contracts division’s website to view bids and read
instructions as they come out.
Additional information and links:
NSP Guidelines (revised
May 11, 2009)
NSP Administration Resolution
NSP PowerPoint presentation
NSP Federal
Register Notice (Oct. 6, 2008)
Purchasing and Contracts Division