Neighborhood Stabilization Program 2 (NSP2)

The Neighborhood Stabilization Program2 (NSP2) is a HUD program established to stabilize neighborhoods whose viability has been and continues to be damaged by the economic effects of properties that have been foreclosed upon and abandoned. NSP2, a term that references the NSP funds authorized by Title XII of Division A of the American Recovery and Reinvestment Act of 2009, provided grants to states, local governments, nonprofits and a consortium of public and or private nonprofit entities on a competitive basis.

TCB was awarded $78 million of NSP2 funds to revitalize distressed communities impacted by the foreclosure crisis. The grant is one of just a handful of awards to national non-profits, and it is the only exclusively multifamily NSP2 award. TCB is investing its NSP2 funds in communities that have been hardest hit by foreclosure and abandonment, reviving distressed neighborhoods and creating construction and permanent jobs. These funds will directly leverage approximately $290 million in additional public and private financing and create or preserve 1,200 units of affordable housing in Massachusetts, Connecticut, New York, Pennsylvania, Ohio, Virginia, North Carolina, Indiana, Illinois and the District of Columbia.

NSP2 HUD Waiver Request - Public Notice

NSP2 HUD Waiver Request - Public Notice

 

Current Status

Approved NSP2 Loans

Contact

For further information on TCB's NSP2 grant, please contact our Boston office:

The Community Builders, Inc.
95 Berkeley Street
Suite 500
Boston, MA 02116-6240

Jane Seiden
Phone: 857-221-8654
E-mail: jseiden@tcbinc.org

 

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