Three rounds of Neighborhood Stabilization Program (NSP) funding have been distributed by HUD to help communities recover from the mortgage crisis. The NSP guidelines encourage communities to use the funds to preserve affordability to the maximum extent possible. Hear how three programs are innovating to successfully apply their NSP funds to meet their community’s homeownership needs while making sure that their homes remain affordable for the long term. Here how:
- The City of Tucson, AZ and the Pima County Community Land Trust have developed a purchase and conveyance program using NSP funds;
- The Housing Fund in Nashville, TN has designed a deed restriction program that allows them to work with developers to create NSP supported homeownership units
- The City of Lakes Community Land Trust uses NSP funds via a homebuyer initiated program to preserve affordability.
- Ron Whitman, Manager of the Pima County CLT and Mike Chechowski, Program Supervisor for the City of Tucson.
- Paul Johnson, Deputy Executive Director, The Housing Fund, Nashville, TN
- Staci Horwitz, Project Director, City of Lakes Community Land Trust, Minneapolis, MN
- Moderated by Rick Jacobus, Director of Cornerstone Partnership