NEIGHBORHOOD STABILIZATION PROGRAM - Round 2 (NSP2)

REQUEST FOR QUALIFICATIONS:   

The Lowcountry Housing Trust (LHT) is seeking qualified partners to implement NSP2.  Please refer to the following documents for more details:

1. NSP2 REQUEST FOR QUALIFICATIONS
2. NSP2 CENSUS TRACTS
   (Maps of eligible census tracts 9, 26.09. 37, 40, and 46.01)
3. NSP2 PROPERTY LIST - Please call 843.973.3596 to request list.
   (Partners may identify other qualified properties (foreclosed, blighted, vacant, or abandoned) not found on the provided list.)
4. LHT NSP2 APPLICATION
   (REQUIRED ATTACHMENTS 16-19)
5. LHT NSP2 RENTAL DEVELOPMENT SPREADSHEET  
   (REQUIRED ATTACHMENT 20 for RENTAL PROPERTIES ONLY)
6. LHT NSP2 HOMEOWNERSHP DEVELOPMENT SREADSHHET  
   (REQUIRED ATTACHMENT 20 for HOMEOWNERSHIP PROPERTIES ONLY)

Additional HUD specific NSP2 program terms and conditions may be found by reviewing the Notice of Fund Availability (NOFA) for the Neighborhood Stabilization Program 2 under the 2009 American Recovery and Reinvestment Act.

SUBMISSION of QUALIFICATIONS:

Two (2) printed copies of Attachments 1- 15 and one (1) electronic (CD) copy of Attachments 16-20 are due no later than Friday, July 3, 2009 at 12:00 p.m. EST at the Lowcountry Housing Trust’s office, unless otherwise advised. 

Responses received after this date and time, regardless of any earlier postmark or delivery error, will NOT be accepted.

What is NSP2?

The Neighborhood Stabilization Program (NSP) was established for the purpose of stabilizing communities that have suffered from foreclosures and abandonment. Through the purchase and redevelopment of foreclosed and abandoned homes and residential properties, the goal of the program is being realized.

NSP1, a term that references the NSP funds authorized under Division B, Title III of the Housing and Economic Recovery Act (HERA) of 2008, provides grants to all states and selected local governments on a formula basis. Under NSP1, HUD allocated $3.92 billion on a formula basis to 309 grantees including 55 states and territories and 254 selected local governments. The program was designed to stabilize communities across America hardest hit by foreclosures. Grant agreements for these funds have already been signed.

NSP2, a term that references the NSP funds authorized under the American Recovery and Reinvestment Act (the Recovery Act) of 2009, provides grants to states, local governments, nonprofits and a consortium of nonprofit entities on a competitive basis. Under NSP2, HUD allocated $1.93 billion on a competitive basis to states, local governments, and non profit organizations. The program objectives and eligible uses did not change under the Recovery Act, but the allocation process and some regulations on the funds have changed.

The program is targeted to households with incomes at or below 120 percent (120%) of the area median income with a portion of the funds targeted to households at or below 50 percent (50%) of the area median income.

2009 MEDIAN INCOMES BY HOUSEHOLD SIZE
BERKELEY, CHARLESTON, DORCHESTOR COUNTIES
# Occupants	1	2	3	4	5	6	7	8
120% of AMI	50,640	57.840	65,160	72,360	78,120	83,880	89,760	95,520
50% of AMI	21,100	24,100	27,150	30,150	32,550	34,950	37,400	39,800

What NSP2 is NOT?

NSP2 is NOT a foreclosure prevention program. HUD has provided no funding for counseling or to bring a past due mortgage current. Funding is to be used strictly to help stabilize neighborhoods negatively impacted by already foreclosed or abandoned property.

What is a Foreclosed Property?

A property that has been foreclosed upon at the point that, under state and local law, the mortgage or tax foreclosure is complete and title for property has been transferred from the former homeowner.