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Neighborhood Stabilization Program
The Housing and Economic Recovery Act of 2008
provided the City of Milwaukee with $9.2 million in federal funding for the
Neighborhood Stabilization Program (NSP) to address foreclosed properties in
Milwaukee neighborhoods impacted by the foreclosure crisis. With input from the
Milwaukee Foreclosure Partnership Initiative, the Common Council Special Joint
Committee on the Redevelopment of Abandoned and Foreclosed Homes, and the
community, the City prepared a plan to guide efforts to utilize the $9.2 million
in NSP Funding.
The Neighborhood Stabilization Program (NSP) Plan and related activities for the
City of Milwaukee are outlined below.
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NSP Programs |
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NSP Homebuyer
Assistance Program
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Guidelines |
Application |
Tenant Protection Certification |
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The NSP Homebuyer Assistance
Program provides funding to help prospective homeowners purchase and
rehabilitate foreclosed homes they will occupy as their primary residence.
Both financial and technical assistance are provided as part of the
program.
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NSP Buy in Your
Neighborhood Program
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Guidelines |
Application |
Tenant Protection Certification |
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The NSP Buy in Your Neighborhood
Program provides funding to help homeowners buy a foreclosed property within
three blocks of where they live for rental purposes. Both financial and
technical assistance is provided. If the property is in need of
rehabilitation, homeowners may also use the NSP Rental Rehabilitation
Program.
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NSP Rental
Rehabilitation Program
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Guidelines |
Application |
Tenant Protection Certification |
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The NSP Rental Rehabilitation
Program provides funding to help responsible landlords purchase and
rehabilitate foreclosed homes for affordable rental opportunities. Both
financial and technical assistance are provided as part of the program.
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