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Funding, Tax Incentives, Grants & Awards for Preservation Projects     


Funding, Tax Incentives, Grants & Awards for Preservation Projects
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HUD’s Neighborhood Stabilization Grants Favors Regional and National Consortium Projects
Historic Preservation Blog from PreservationDirectory.com - Department of Housing and Urban Development (HUD), grants, Neighborhood Stabilization Program, National Trust for Historic Preservation
Contributed By: The National Trust for Historic Preservation's Department of Public Policy
Email The Author: pr@nthp.org
Website: http://nthp.org

On January 15th, the Department of Housing and Urban Development (HUD) announced $2 billion in funding awarded to 56 grantees through the Neighborhood Stabilization Program (NSP). NSP was created to redevelop hard-hit communities, create jobs, and grow local economies by providing communities with the resources to purchase and rehabilitate vacant homes and convert them to affordable housing. Last year, HUD awarded nearly $4 billion in NSP formula funds to over 300 grantees nationwide to help state and local governments respond to the housing crisis and falling home values. For the second round of NSP grants HUD received proposals requesting more than $12 billion, but only $2 billion was available for grantees and were selected based on expertise in carrying out program activities that will not only stabilize the foreclosure crisis, but leverage other resources to support community revitalization. Of the 56 grants being awarded, 33 are regional consortiums and four are national consortiums carrying out activities in target areas throughout the country.

The National Trust will be working more closely with HUD and the Department of Transportation (DOT) this year to help congeal programs like NSP and transit-oriented design with rehabilitation-based sustainability investments.

Reprinted by permission of the Public Policy Department of the National Trust

 


Keywords: Department of Housing and Urban Development (HUD), grants, Neighborhood Stabilization Program, National Trust for Historic Preservation

Posted: January 22, 2010
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