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ATTACHMENT 4
<br />Elope i7.•: p {o- c% tb_ :L cc s: 1 P x^i_
<br />Neighborhood Stabilization Programs
<br />II
<br />Communities across the eountrv have been severely impacted b.v 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 N'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 became sources of blight nithm their communities.
<br />Through the NSP. HUD has allocated Sg.92 billion to communities nanain,ide ofidtich S,5,-43.1$1 ,as, 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), -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; ,hqu '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 Ciro s homeot, nte11ig Fr rnv5
<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 iuh it,, 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' eon NSP 2Substantial 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 331,46q.ug 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 ,ill be implementing the following programs:
<br />Acquisition%Rehabo Resale-,5o Percent of Area Median
<br />AcquisitionRehab; Resale-120 Percent of Area 1leman
<br />Administration
<br />Public tom neat d [ fn zor^ NSP z Substantal 4 ne doe .
<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 cry Grant R_Ooi n? So stem ( DRGR) T HL, include,. but is not'iowed to a
<br />detailed list of all projects and acm in,, for which funds mere ob t„ ated or es nded. an f-. air eon otthm rninleti,n st dui of the prract or
<br />actn itv, and an estimate of the number of fobs ci Bated nr retained. 'Phe rollo a ,i are the t i of that i1a I a n sub mitten:
<br />Quart€rJ]..Progr soRcPart._..3aria try 'L S,Zl nrlrr]t_ 1 s Rtynrf-..,Jrn iS? 1•
<br />thglpgli March 31::+o13 t}R ny,h ylerrla„ai,,•o}g
<br />thl xivh Drrgepty?, ' '49
<br />K,go.t
<br />Qp3r[ rls Pt ogii'?? ( SSuber I S2o ,,n,1, Fios, R•p. I um 1_
<br />tlq?s7u„h D•vanbcrst ?oi7.
<br />Qnaterl} ProZie'ss Report irnu rU j,yhrough
<br />Nl n hal "'0t.
<br />t u vt u• Pn? t ?H.11"e1 ,) I L,, i tn?. ev_h
<br />il, ,lobar 31•11).d
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