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NOFA for NSP2 Under the American Recovery and Reinvestment Act, 2009: Announcement of Availability of Updated Foreclosure Information

Date Published: May 2013

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Description

On May 4, 2009, HUD posted its FY 2009 NSP2 NOFA on the Grants.Gov Web site and on HUD’s own Web site. The NOFA announced the availability of up to $1.93 billion for HUD’s FY2009 NSP2 Program. The purpose of the program is to stabilize communities that have suffered from foreclosures and abandonment through the purchase and redevelopment of foreclosed and abandoned homes and residential properties. NSP2 is authorized by the Housing and Economic Recovery Act (Public Law 110–289) (HERA), as amended by Title XII of Division A of the American Reinvestment and Recovery Act of 2009 (Public Law 111– 005) (Recovery Act). The NSP2 NOFA requires grantees to carry out NSP2 activities in a HUD-approved target area. HUD developed a foreclosure needs map Web site to assist grantees in selecting target areas that meet the criteria for NSP2 funding. For NSP2, the foreclosure needs map provides foreclosure-related needs scores at the census tract level and grantees select one or more census tracts that have an average combined index score of 18 or greater as indicated by the map. The needs scores were generated with foreclosure data from 2005–2008. This data is now dated and in many cases it no longer reflects the foreclosure market in NSP2 target areas. Further, HUD updated mapping capabilities for its Neighborhood Stabilization Program 3 (NSP3), allowing NSP3 grantees to draw the outline of a targeted neighborhood rather than selecting bestfit census tracts. This method allows a better correlation between the data provided and the target geography.

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Tags: NSP
Author Organization
  • HUD
Resource Approver
  • HUD Approved