Neighborhood Stabilization Program (NSP)
On July 30, 2008, President George W. Bush signed into law the Housing and Economic Recovery Act of 2008 to address the nation's severe housing crisis. Title III of the Act appropriates $3.92 billion of grant funds under the Neighborhood Stabilization Program (NSP) for states and local governments to purchase and redevelop abandoned or foreclosed properties.
Manatee County has been allocated $5,283,122 in NSP funds for use on projects throughout the County. All money must be obligated for use on a specific project within 18 months.
Although most of the County has been effected by the foreclosure crisis, the following areas have been hardest hit and can be considered the "Areas of Greatest Need."
- North County Area
- South County Area
- Oneco Area
- Samoset Area
- 14th Street Community Redevelopment Area
- Washington Park Area
- Areas within and immediately adjacent to the City of Bradenton and the City of Palmetto.
Manatee County will target its NSP activities to these high priority areas. These activities include:
- Demolition of Blighted Structures
- Acquisition/Rehabilitation and Rental
- Financing Mechanisms for Down Payment/Closing Costs Assistance
- Redevelop Demolished or Vacant Properties
- Housing Counseling