Neighborhood Stabilization Program (NSP)
The Housing Department plans to apply for a 2008 Neighborhood Stabilization Program
(NSP), Community Development Block Grant from the North Carolina Department of Commerce’s
Division of Community Assistance in partnership with the City of Winston-Salem.
The grant amount of $5,250,000 will be used to provide homeownership training, down
payment assistance, closing cost and rehabilitation for foreclosed or abandoned
homes purchased by households with incomes at or below 120% of median household
income. NSP funds will also be used to help finance the acquisition of vacant, foreclosed
lots by qualified non-profit affordable housing providers who intend to construct
rental or for purchase residential properties.
The NSP is intended to reduce blight,
rehabilitate abandoned and foreclosed properties, provide affordable housing for
buyers and renters, and stimulate the local real estate market.
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