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Neighborhood Stabilization Program
Community Planning and Development
Neighborhood Stabilization Program
NSP Program Performance Update – January 1, 2011
As of today, Waterford Township has expended 100% of its $2,014,489 NSP program funds. These fund enabled 46 families to purchase, repair and move into previously foreclosed properties. Of the 46, twenty-three are low-income families and twenty-three are moderate/middle-income. The Township also acquired one vacant foreclosed, and condemned, residential property.
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Neighborhood Stabilization Program - Funding No Longer Available
The U.S. Department of Housing and Urban Development (HUD) established the Neighborhood Stabilization Program (NSP) to provide emergency assistance to reduce the inventory of foreclosed residential properties. Waterford Township received NSP funds and dedicated the majority of its funding as FHA mortgage down payment assistance to foreclosed properties as principal residences. The Township's NSP funds have been 100% expended, the program is now closed and there is no more NSP funding avaiable. For information purposes, the Township's NSP Action Plan that it implemented can be found by clicking on the following link:
Charter Township of Waterford Revised NSP Action Plan
The Township's quarterly performance reports to HUD can be found by clicking on the following links:
April-June 2009 NSP Performance Report
July-Sept 2009 NSP Performance Report
Oct-Dec 2009 NSP Performance Report
Jan-March 2010 NSP Performance Report
April-June 2010 NSP Performance Report
July-Sept 2010 NSP Performance Report
Oct-Dec 2010 NSP Performance Report