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The Housing and Urban Development’s (HUD’s) Neighborhood Stabilization Program 3 (NSP3) is authorized under the Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Financial Reform Act of 2010), Notice 75 FR 64322 of October 19,2010, and represents a third round of funding to provide targeted emergency assistance 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. $1 billion was announced to stabilize neighborhoods hard hit by foreclosure across the nation.

 

The State of Idaho received an allocation of $5,000,000 for NSP3 funding and on March 11, 2011, the U.S. Department of Housing and Urban Development approved the request submitted through the Substantial Amendment by the Idaho Housing and Finance Association (IHFA) to administer the NSP3 funding.

 

NSP3 funds will be awarded following receipt, review and approval of competitive applications from eligible entities who meet the submission deadline of May 31, 2011. For the complete application form, see attachment #9 below. Applicants will have until May 31, 2011 in which to prepare and submit their Letter of Interest and supporting documentation. It is imperative that ALL required information be received by IHFA prior to the application deadline. Applicants must submit one (1) complete original. The Application must have the original signature of the chief elected official or chief executive officer and any other documents that require official signatures.

 

Applications must be physically received at IHFA by 5:00 p.m. on May 31, 2011, whether hand-delivered, mailed through the U.S. Post Office or delivered by private and overnight delivery companies such as USPS, FedEx, etc.

 

If using the U.S. Postal Service, mail to: Idaho Housing and Finance Association P.O. Box 7899, Neighborhood Stabilization Program Grant Programs Department Boise, Idaho 83707-1899

If using overnight or in-person delivery, deliver to: Idaho Housing and Finance Association 565 W. Myrtle Street, Suite 402 NSP; Grant Programs Department Boise, Idaho 83707 (208) 331-4889

  

NSP3 Substantial Amendment Plan:

Modification to the NSP3 Final Substantial Amendment

Final Substantial Amendment and Action Plan Contents Checklist

Governor Designation Letter and Steering Committee Cover Letter

Summary of Public Comments

Exhibit #1 – State of Idaho Policy Map Census Tract Eligibility

Exhibit #2 – Targeted Census Tracts, Data Dictionary, NSP3 Planning Data

Exhibit #3 – NCST Foreclosure Data Map

Exhibit #4 – Total REO to Total Resales & Total Sales to Total Inventory Charts

Exhibit #5 - SF424

NSP3 Recipient Application Form
 

To learn more about this program click on one of the links below. 
NSP 3 Final Substantial Amendment
Quarterly Report
Public Disclosure
NSP Policy and Procedure Manual