The Neighborhood Stabilization Program 2 - Notice of Funding Availability
HPD invites developers and local organizations to submit applications for the funding of proposals to acquire and redevelop foreclosed, abandoned, or vacant properties. To be eligible for funds, Proposals must work in the NSP2 target geography—the census tracts in New York City most affected by foreclosures. The funding available through this Notice of Funding Availability (NOFA) is intended to help applicants transition vacant, foreclosed, and abandoned properties into affordable housing.
HPD welcomes two types of proposals:
- Proposals for down-payment and rehabilitation assistance to individual buyers of foreclosed or abandoned properties.
- Proposals to acquire and thereafter redevelop foreclosed or abandoned properties through rehabilitation or new construction. We are encouraging creative approaches, including a rent-to-own program for homebuyers who cannot currently afford a 30-year mortgage, employer-assisted housing, scatter-site rental housing, or other models.
In all cases, Applicants must meet HUD’s guidelines for eligible properties and geography.
Click on the links below to download the NOFA and the required Proposal forms. A copy of the NOFA may also be obtained via mail or in person from 9 a.m. to 5 p.m. at HPD located at 100 Gold Street, New York, NY 10038.
Proposals are due in hand no later than 4:00 p.m. on June 11, 2010. Detailed instructions are provided in the NOFA.
All communications must be IN WRITING to:
100 Gold Street, Room 9-Q4
New York, NY 10038
Click Here to Download the NSP2 NOFA
Prospective Applicants should also download the Proposal Forms:
A. Development Team Information and Questionnaire (Word)
B. Assets Statement (Word)
C. Development Experience (Excel)