Neighborhood Stabilization Program (NSP)
The purpose of the Neighborhood Stabilization Program (NSP), first funded under the federal Housing and Economic Recovery Act of 2008 and then under the American Recovery and Reinvestment Act of 2009 (ARRA), is to stabilize communities hard hit by foreclosures through the purchase, rehabilitation, and then re-sale or rental of abandoned and foreclosed residential properties. The Housing and Community Development Department (HCD) administers two NSP grants: an NSP 1 grant of $2.1 million for the "Urban County" which consists of the Unincorporated County and the Cities of Albany, Emeryville, Piedmont, Newark and Dublin), and an NSP2 grant of $11 million for the "NSP2 Consortium," which consists of the cities of Emeryville, San Leandro, Hayward, Union City, Newark, Fremont, Dublin, Pleasanton, Livermore and the Unincorporated County.
HCD's NSP program works through selected nonprofit Development Partners which identify, evaluate, acquire, rehabilitate and then resell or rent the properties selected. The NSP program consists of both a For Sale Program and a Rental Program.