Texas Department of Housing & Community Affairs - Building Homes and Strengthening Communities

Texas Neighborhood Stabilization Program (NSP)

Announcements

TDHCA announces the availability of approximately $5,000,000 through the NSP1-PI NOFA for a Homebuyer Assistance Program. On June 30, 2016, at 10:00 a.m. Austin Local Time, the funds will be available for reservation on the Department's online Reservation System on a first-come, first-served basis by eligible Applicants. The Department will begin accepting Applications to access the Reservation System starting on Monday, June 20, 2016.

Eligible Applicants are Developers as defined under NSP Notices that demonstrate existing ownership or control of Land Bank properties. Funding reservations under this NOFA are only available for Land Bank properties associated with the Department's NSP1 Program. These properties must be currently pending construction activities for the final eligible use of homeownership.

Homebuyer Assistance is available to low- to medium-income households (less than 120% of the Area Median Family Income for household size) for purchasing Land Bank properties in accordance to this NOFA and the NSP Technical Guide. Homebuyer Assistance may be utilized for reasonable closing costs, down payment assistance not to exceed 50% of the required down payment by the lender, principal reductions, and gap financing. Please view the NOFA and application below for more information.

Background

The Neighborhood Stabilization Program (NSP) is a HUD-funded program authorized by the “Housing and Economic Recovery Act of 2008” (HERA), as a supplemental allocation to the Community Development Block Grant (CDBG) Program. Additional funds have been provided through the Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) as part of NSP3. The purpose of the Neighborhood Stabilization Program is to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment and blight. NSP provides funds to purchase foreclosed, vacant or abandoned homes and residential properties, in order to rehabilitate, resell, or redevelop them, stabilize neighborhoods and stem the decline of property values in communities impacted by the housing crisis.

If you have questions about any of the documents linked on this page, please contact NSP staff.

Resources

Texas NSP NOFAs & Applications

Federal Resources

Community Resources

Resources for Texas NSP Grantees