Congress established the Neighborhood Stabilization Program (NSP) for the purpose of stabilizing communities that have suffered from foreclosures and abandonment. Maricopa County utilized NSP funds to help the hardest hit areas of the Urban County service area with foreclosed and abandoned properties. In 2009, Maricopa County received $9.9 million in NSP funds authorized under the Housing and Economic Recovery Act of 2008. In 2010, the County received $4.2 million in NSP 3 funds authorized under The Dodd-Frank Wall Street Reform and Consumer Protection Act.
Maricopa County NSP Activities Included:
Acquisition/Rehabilitation/Resale - Maricopa County and its partner, the Housing Authority of Maricopa County acquired, rehabilitated with energy efficient features, and resold 43 homes to qualified home buyers.
Acquisition/Rehabilitation/Rental - Single Family: Maricopa County partnered with two non-profit agencies to create affordable homes as rental options for 18 households at or below 50% of the area median income. Multi-Family: Maricopa County is partnering with two non-profit agencies, helping create permanent supportive housing options for 330 individuals/families that are formerly homeless, refugees, or veterans.