To assist neighborhoods hard hit by the foreclosure crisis, the federal government launched the Neighborhood Stabilization Program (NSP). In 2010, Anoka County began investing NSP funding to rehabilitate over 80 properties in targeted areas. The program will be closed out in 2016.
Creating a Future
Anoka County used federal NSP funds to address foreclosures and create permanent housing opportunities. NSP requirements included household income guidelines and identified areas of “greatest need.” Those areas were outlined within the NSP Final Substantial Amendment (PDF). Within the outlined areas of greatest need, Anoka County used NSP funds to address housing were foreclosed, vacant or abandoned.
Anoka County utilized NSP funds to:
Purchase a property - if the home and garage are beyond repair, demolish it and sell vacant land for redevelopment.
Purchase a property - remodel the home to meet health and safety codes and sell property to income-qualified family. As part of the sale of these properties, qualified buyers have the opportunity to use affordability assistance.
Anoka County NSP Performance Reports are available below:
Federal NSP Performance Report for April 1 through June 30, 2012