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ATTACHMENT 4
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<br />Neighborhood Stabilization Programs
<br />Communities across the eountry have been severely impacted by mortgage foreclosures and declining propern values. In response Congress
<br />passed the Housing and Economic Recovery Act of 2008 which funded the Neighborhood Stabilization Program (-NSP) to help revitalize and
<br />stabilize impacted communities The propose of &SP is to provide targeted assistance to 5t ate and local go• ernments to acquire and redevelop
<br />foreclosed homes and residential properties that might othensise become sources of blight nithm their communities.
<br />Through the NSP. HUD has allocated Sg.92 billion to communities nanain,ide ofidtich S,5,-4j.1$1 ryas allot, tort to the City of Santa All. The
<br />City submitted their Substantial V11e. dment to U.S Department of Housing and Urban Development (HUD), o -hich explains the programs to
<br />be implemented. .As a part of the Cit 's NSP, the City trill be, implementing five programs'. Dmw npay-ment is,ntant; ,ltgna'ition
<br />Rehabilitation of Single Family Homes; Acquisition Ez Rehabilitation of Condominiums and Historic Homes; Acquisition'Re halOhtation of
<br />Rental Housing; and Redevelopment.
<br />For more information on the C n s homeot,nte1hig nr ranv5
<br />Neighborhood Stabilization Program 2 (NSP 2)
<br />The American Recovery and Reinvestment Act of 2oog (ARRA) provided additional fimdin; for NSP activities to states local governments,
<br />non profits, and a consortium of nonprofit entities on a competihs e basis. An ap ibcation eras submitted bs (: it, 'staff on in!,. 16, :7000 to the
<br />US Department of Housing and Urban Development (HUD) tar these additional NSP funds_ The Ct} , as atrarded Sio million to undertake
<br />the same activities /programs as NSP 1.
<br />The programs are:
<br />• Downpayment Assistance
<br />• Acquisition and Rehabilitation of Single Famil'v Homes
<br />• Acquisition and Rehabilitation of Rental Housing
<br />• Administration
<br />Public comment document f' Zorn NSP oSubstantial A end t
<br />Neighborhood Stabilization Program 3 (NSP 3)
<br />The U.S. Department of Housitlg and Urban Development (HUD) has allocated the amount of 91,464.111 in NSP g funds to the City of Santa
<br />Ana through the Frank -Dodd Act. To receive these funds the Cite adopted a substantl_1,pmendrient n-hich was submitted to HUD on
<br />February 28, 2011. The City till be implementing the following programs:
<br />Acquisition %Rehab:- Resole- ,5o Percent of Area Median
<br />Acquisition, Rehab; Resale -120 Percent of Area 1leman
<br />Administration
<br />Public tom moot d [ fn zot^ NSP z Substantal 4 ne die .
<br />Reporting
<br />Recipients of NSP funds are required to report specified information to the Department of Housing and Urban Development (HUD) 30 days
<br />after the end of each calendar quarter through the Disaster Recn or Grant R_Oei t ng S%- tem ( DRGR) 7 1c includes, but is not Hinhed to a
<br />detailed Fist of all projects and acm in,, for which funds mere ob t„ ated or es nded. an f-. air eon Of th^ O,ninleti,n st dui of the prract or
<br />actn itv, and an estimate of the number of Will ci laced or retained 'Phe tollo a i are the t 1 of is tint i1a I a n sub mitten:
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