Neighborhood Stabilization Program

Congress created the Neighborhood Stabilization Program to help cities, counties and states deal with community problems that are the result of the mortgage foreclosure crisis in the nation. HUD provides money to about 250 local governments (cities and counties) and all 50 states. Generally, the money must be used to buy, fix up, and resell foreclosed and abandoned homes. As long as the funds are used for this redevelopment, the units of government that receive HUD funds decide how to use the funds and what specific redevelopment activities to undertake.

Augusta-Richmond County was selected by HUD as eligible for funding based on the actual number of foreclosures and other factors that have affected the neighborhood stabilization for the state of Georgia.

Those neighborhoods that are eligible for funding are any in the Targeted Zip Codes or Census Tracts determined by HUD to be the “Areas of Greatest Need” based on these factors and are eligible for any of the following types of activities:

Eligible Uses

  • Create financing mechanisms for purchase and redevelopment of foreclosed properties
  • Purchase foreclosed, vacant, abandoned or blighted homes and/or vacant lots for rehabilitation, redevelopment and resell in order to stabilize neighborhoods.
  • Purchase or rehabilitate abandoned and/or foreclosed homes in targeted areas made available to persons living at or below 50% of AMI for the purpose of affordable housing.
  • Utilize the Augusta-Georgia Land Bank Authority (AGLBA) to acquire abandoned and/or foreclosed properties prior to the selection of a developer maintained for future redevelopment and rehabilitation under usage delegated by AHCDD.

Housing and Community Development

Substantial Amendment (NSP1)
Substantial Amendment (NSP3)
Application Process
NSP Income Limit

For more information please contact a NSP team member at (706) 821-1797.