The Neighborhood Stabilization Program (NSP) was established under the Housing and Economic Recovery Act of 2008 (HERA), which awarded $3.9 billion in stimulus funds to States, Counties, and Cities to assist in the absorption of the excess inventory of foreclosed housing. In 2009, President Barack Obama signed into law the American Recovery and Reinvestment Act (ARRA) of 2009, which allocated an additional $1.93 billion in competitive grants as part of a second round of NSP funding. And finally, on September 8, 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 allocated yet another $1 billion in NSP funding to the hardest hit communities. All told, the Federal government has infused $6 billion in aid to communities all across the nation with the intent of arresting the further decline of the housing market, providing access to affordable housing, and creating new economic opportunities.

The City of Indio has been allocated $12 million from the Department of Housing and Urban Development (HUD) to implement the NSP Program. Most notably, Indio was successfully awarded $8.3 million during the ARRA - competitive round of funding, being the only Inland Empire community to achieve this accomplishment. In order to effectively implement the NSP Program, funds will be used for the acquisition of vacant and foreclosed properties, which will be rehabilitated and then sold to income-qualified first-time homebuyers. 25% of the funds will be made available to assist low-income households earning no more than 50% of the area median income (AMI) and the balance of funds will be used to assist families that earn no more than 120% AMI.

The City’s NSP Plan consists of the following activities:

• Rehabilitating vacant and foreclosed single-family homes and making them available to income-eligible households earning no more than 120 percent of the area median income (AMI). The NSP single-family homes will be fully renovated meeting all code and building requirements and have a one-year warranty, and
• Demolition of distressed single-family homes (i.e. burned structures) which will be replaced with a newly constructed home that will be made available for sale to income-eligible households earning no more than 50 percent of the AMI.

Before and After Photos

NSP Quarterly Performance Reports

The NSP Quarterly Performance Reports (QPR) provides an overview of the progress made in the NSP Program from quarter to quarter. These reports are designed to increase the level of transparency between the goverment and the public. Reports are due at the end of each quarter to HUD for review and approval. Each report contains detailed information regarding:

• The status of the program;
• The amount of funds obligated and/or expended during the reporting period;
• Street addresses of homes acquired, rehabilitated, and sold;
• Beneficiary data (household income and size);
• Program accomplishments; and
• Program achievements

NSP2

• NSP2 Jan 1 - Mar 31, 2010 - QPR
• NSP2 Apr 1 - Jun 30, 2010 - QPR
• NSP2 Jul 1 - Sept 30, 2010 - QPR
• NSP2 Oct 1 - Dec 31, 2010 - QPR
• NSP2 Jan 1 - Mar 31, 2011 - QPR
• NSP2 Apr 1 - Jun 30, 2011 - QPR
• NSP2 Jul 1 - Sep 30, 2011 - QPR
• NSP2 Oct 1 - Dec 31, 2011 - QPR
• NSP2 Jan 1 - Mar 31, 2012 - QPR
• NSP2 Apr 1 - Jun 30, 2012 - QPR
• NSP2 Jul 1 - Sep 30, 2012 - QPR
• NSP2 Oct 1 - Dec 31, 2012 - QPR
• NSP2 Jan 1 - Mar 31, 2013 - QPR
• NSP2 Apr 1 - June 30, 2013 - QPR
• NSP2 Oct 1 - Dec 31, 2013 - QPR

NSP3

• NSP3 Apr 1 - Jun 30, 2011 - QPR
• NSP3 Jul 1 - Sept 31, 2011 - QPR
• NSP3 Sep 1 - Dec 31, 2011 - QPR
• NSP3 Jan 1 - Mar 31, 2012 - QPR
• NSP3 Apr 1 - Jun 30, 2012 - QPR
• NSP3 Oct 1 - Dec 31, 2012 - QPR
• NSP3 Jan 1 - March 31, 2013 - QPR
• NSP3 Jan 1 - Mar 31, 2014 - QPR

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