Neighborhood Stabilization Program
Neighborhood Stabilization Grant
Certified as an "Urban County" and a Community Development Block Grant Entitlement (CDBG) Community by the U.S. Department of Housing and Urban Development (HUD), Shelby County Government is being awarded $2,752,708.00 in Neighborhood Stabilization Funds as allocated under Title III of the Housing and Economic Recovery Act (HERA) of 2008.
As prescribed by HERA and HUD, Shelby County is to use these funds to buy vacant foreclosed properties and make the properties available as affordable housing for individual households making 120% or less of the area median income by household size. Additionally, funds are to be targeted to an area(s) of the community experiencing high numbers of foreclosures, high percentages of high cost mortgage loans, and projected high incidence of foreclosures.
In compliance with HERA and HUD, Shelby County has submitted its final draft of the Neighborhood Stabilization Program Amendment to HUD as of today's date: December 1, 2008.
The Shelby County NSP Amendment in its final form as submitted for approval by HUD is now available for review by interested parties at the following locations: the link below on this site, the Shelby County Department of Housing, 1075 Mullins Station Road and the following branches of the Memphis and Shelby County Library system: Benjamin L. Hooks Central Branch, Arlington, Bartlett, Collierville, Millington, and Germantown.
Additionally, the Shelby County Department of Housing will hold a public hearing to discuss the Final NSP Amendment on Tuesday December 9, 2008 at 5:30 p.m. in the Peggy Edmiston Administration Building's Training Room (room C-113), 1075 Mullins Station Road, Memphis, Tennessee. Attendees should enter the building through the center front main entrance.
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