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neighborhood stabilization program 2 (nsp2)
2009 AMERICAN RECOVERY & REINVESTMENT ACT (ARRA)
The American Recovery and Reinvestment Act of 2009 (ARRA) was signed into law by President Obama on February 17th, 2009. It is an unprecedented effort to jumpstart our economy, create or save millions of jobs, and put a down payment on addressing long-neglected challenges so our country can thrive in the 21st century. The Act is an extraordinary response to a crisis unlike any since the Great Depression, and includes measures to modernize our nation's infrastructure, enhance energy independence, expand educational opportunities, preserve and improve affordable health care, provide tax relief, and protect those in greatest need.
ARRA provides $2 billion in new NSP funds. Unlike the NSP funds provided under the 2008 Housing and Economic Recovery Act (HERA), the new ARRA NSP funds will be awarded competitively to States, local governments, nonprofits, or consortia of nonprofits, which may submit proposals in partnership with for-profit entities. Similar to the 2008 HERA requirements, the timelines for the use and distribution of the ARRA NSP funds are tight. HUD must establish grant selection criteria by May 1, 2009. Applications will be due to HUD by July 17, 2009. Applicants must be notified by December 1, 2009. All ARRA NSP funds must be made available by February 17, 2010. Fifty percent of the funds must be expended within 2 years from the date the funds become available to the grantee and the remaining amount must be expended within 3 years.
For additional information on ARRA, please visit http://www.recovery.gov/. For additional information on ARRA NSP, please visit http://www.hud.gov/recovery/nspg.cfm.
NSP2 APPLICATION PROCESS
NEIGHBORHOOD STABILIZATION PROGRAM 2
The City of Atlanta, Department of Planning and Community Development, Bureau of Housing (COA) received twenty-five (25) responses to the NSP2 Letter of Intent for development partners interested in being apart of the City's NSP2 Consortium. For a listing of who submitted responses, please click here. The City and the Atlanta Development Authority have selected Integral Development, LLC., and the Atlanta Neighborhood Development Parnership (in collaboration with MaCallan Group and NorSouth Companies) to be apart of the City's Consortium application for NSP2.
The City of Atlanta Consortium application will be for funds to purchase and rehabilitate foreclosed/abandoned or vacant properties to be later sold or rented; to develop new housing for rent or sale; to provide down payment assistance to eligible homebuyers; to demolish blighted structures impacting NSP2 projects; and to land bank properties for later development or disposition. All funds expended will benefit households earning less than 120% of Area Median Income with at least 25% of funds for households earning 50% of Area Median Income or less. Targeted geographies will the following census tracts: 8, 22, 23, 24, 25, 26, 27, 33, 38, 39, 40, 41, 42, 52, 55.01, 55.02, 56, 57, 58, 60, 61, 62, 63, 64, 65, 66.01, 66.02, 67, 69, 75, 76.01, 76.02, 77.01, 78.05, 78.06, 78.07, 78.8, 82.01, 83.01, 83.02, 84, 85, 86.01, 205, 206, 207, 209, 208.01, 208.02. These census tracts are located in portions of 30307, 30310, 30311, 30312, 30314, 30315, 30316, 30317, 30318 and 30331 zip codes.
Comments on the application may be submitted in writing to the following address:
Bureau of Housing
City of Atlanta
68 Mitchell Street, Suite 1200
Atlanta, Georgia 30303
Comments may also be submitted in writing to the following email address: BureauofHousingNSP@atlantaga.gov. Comments must be received by July 13, 2009.
NSP2 Public Hearing
The Community Development/Human Resources Committee of the Atlanta City Council will hold a Public Hearing on Tuesday, June 30, 2009, at 12:30 p.m., in Committee Room #2, 2nd floor, City Hall, 55 Trinity Avenue, SW authorizing the Mayor to enter into a Consortium Agreement to apply for and accept a competitive grant from the U.S. Department of Housing and Urban Development (HUD) under the Community Development Block Grant (CDBG) Neighborhood Stabilization Program 2 (NSP2). For more information, please contact the Bureau of Housing at (404) 330-6390.
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