![]() ![]() The program was authorized under Title III of the Housing and Economic Recovery Act of 2008. Pima County received $3,086,867 in grant monies to purchase foreclosed or abandoned homes and to rehabilitate, resell, or redevelop these homes in order to stabilize neighborhoods and stem the decline of house values of neighboring homes. NSP provides emergency assistance to state and local governments to acquire and redevelop foreclosed properties. ![]() Stabilization Program (NSP1) to stabilize communities hardest hit by foreclosures,Äelinquencies, and the decline of housing values. The Department of Housing and Urban Development (HUD) began the Neighborhood For more information please contact Marcos Ysmael, Housing Program Manager Redevelop demolished or vacant properties.Establish land banks for foreclosed homes. ![]() Purchase and rehabilitate homes and residential properties abandoned or foreclosed.Establish financing mechanisms for purchase and redevelopment of foreclosed homes and residential properties.NSP funds may be used for activities which include, but not limited to: Revitalizes targeted areas through economic development activities and housing market stabilization.
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