Neighborhood Stabilization Program 3 (NSP3)
Substantial Amendment to 2010-11 Consolidated Annual Action Plan
On October 19, 2010, the U.S. Department of Housing and Urban Development (HUD) as authorized under Section 1497 of the Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) announced the release of a third round of funding made available through the Neighborhood Stabilization Program (NSP3) for the purpose of stabilizing neighborhoods by the reduction or elimination of vacant and abandoned residential property in targeted neighborhoods.
To apply for the allocation of $21,922,710, the City of Detroit, through the Planning and Development Department, has proposed the following use of funds in the draft Substantial Amendment to the 2010-11 Consolidated Annual Action Plan.
The proposed budget breakdown is as follows:
Planning and General Administration $2,192,271
NSP3 requires grantees to use at least 25% of the funds allocated, $5,480,678, for the purchase and redevelopment of abandoned or foreclosed homes or residential properties that will be used to house individuals or families whose incomes do not exceed 50% of the area median income (AMI).
All activities funded by NSP3 must benefit low- and moderate-income persons whose income does not exceed 120% of the area median income.
NSP Financial Analyst
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Please view the draft Substantial Amendment to the Action Plan and the supporting documents by clicking on the links below:
NSP3 Application (pdf)
Maps and Narratives (pdf)
HUD Mapping Tool (pdf)
January - March 2012 - Revised (pdf)
April - June 2011 Report (pdf)
July - September 2011 Report (pdf)
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