Neighborhood Stabilization Program
Washoe County was competitively awarded a United States Department of Housing and Urban Development (HUD) Neighborhood Stabilization Program (NSP3) grant in the amount of $1,735,918.00. The NSP3 program was authorized under the Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) of 2010. The NSP3 program was established for the purpose of stabilizing property values and arresting the physical decline of communities that have suffered from foreclosures and abandonment in their local housing markets. The NSP3 program targets these properties for acquisition and rehabilitation. These housing units will then be used to provide housing opportunities for individuals and families who are at 80% or below of the Average Medium Income (AMI) for Nevada. The intent of this program is to purchase a minimum of 8 housing units in the program target area. The State of Nevada has received $5,000,000.00 in NSP3 funds, and has dedicated $574,000.00 of those funds to supplement Washoe County’s NSP3 program.
This program is being developed in cooperation between the Washoe County Department of Social Services, the Washoe County Community Services Department, the State of Nevada Housing Division, and the United States Department of Housing and Urban Development.
NOTICE OF ACTION PLAN AMENDMENT
The comment period for the following Action Plan amendment ended on March 31, 2013. Washoe County received no comments related to this notice. The amended Action Plan will be implemented in May 2013.
Washoe County is updating its NSP3 Action plan to better reflect the County plan for NSP3 funding. As project planning and implementation has progressed, the County has determined that several changes are in order. These are primarily necessitated by the actual costs of construction based on bids and updated costs estimates and a thorough underwriting analysis of the primary rental project being developed by the County. As further outlined in the amendment summary document, the County is updating its provisions related to Ensuring Continued Affordability and the Definition of Affordable Rents. In both cases, the updates are intended to clarify prior provisions, eliminate minor internal inconsistencies, and provide for operational flexibility in the future.
Consistent with HUD requirements, Washoe County provided public notice of this amendment it its NSP Action Plan by publishing a Public Notice (English and Spanish) on Friday, March 15, 2013, in the Reno Gazette Journal, a publication of general circulation, and by a posting on this website. The public comment period ran for 15 days, expiring on March 31, 2013. Public Comments will be summarized and posted to the above noted website as they are received To submit your comments or for more information on these changes or on any other aspect of this grant, please contact:
Stephen Shipman, MPA, Washoe County Social Services
Robin Mason,Economic Development Coordinator Intern, Washoe County Department of Community Services
|Approved NSP3 Action Plan||April 1-June 30, 2011|
|July 1-September 30, 2011|
|October 1-December 30, 2011|
|January 1-March 31, 2012|
|July 1-September 30, 2012|
|October 1-December 31, 2012|
Draft Environmental Review for the Neighborhood Stabilization Program 3 (NSP3) target area.
For questions regarding this program, contact:
Stephen Shipman, Grants Coordinator
For questions regarding this web page, contact:
Robin Mason, Economic Development Coordinator Intern