Neighborhood Stabilization Program
The City of Garland received $2,040,196 in funding from the Department of Housing and Urban Development. The Neighborhood Stabilization Program (NSP) is authorized by the recently enacted Housing and Economic Recovery Act of 2008 (HERA) These funds are considered additional 2008 entitlement funds for the Community Development Block Grant. Proposed grant funded activities are as follows:
Garland Land Bank Activities - Funding will be used to provide for NSP eligible land banking activities such as demolition, acquisition and redevelopment of foreclosed, blighted or abandoned properties.
Second Chance Purchase Program - This is a purchasing and financing activity that allows foreclosed or abandoned properties to be purchased, rehabilitated and sold to households with incomes at or below 50% of the area median income for Dallas County as established by HUD.
Garland Property Stabilization Program - This is a purchasing and financing activity that allows foreclosed or abandoned properties to be purchased, rehabilitated and sold to households with qualifying incomes of 120% or below the area median income for Dallas County as established by HUD. Additional down payment assistance is eligible for properties purchased through this program.
NSP Homebuyer Assistance Program - This program provides downpayment and closing costs assistance for the purchase of any foreclosed or abandoned single family property in eligible areas and with household incomes that do not exceed 120% of the area median income for Dallas County are eligible to apply.
Download the NSP Amendment.
The Department is actively pursuing grant opportunities under the Federal American Recovery and Reinvestment Act ("ARRA" of the "Recovery Act") to combat the downturn in the economy. Please click here to read more about how our Department and the City of Garland is working to bring jobs and new investment into the community.