House Votes to Rescind $1B in Neighborhood Stabilization Grants

The U.S. House of Representatives voted Wednesday to pull the plug on HUD’s Neighborhood Stabilization Program (NSP) and rescind $1 billion in grant money that has not yet been awarded.

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Neighborhood Stabilization Program Recovery from Crisis: Stories and Strategies from NSP These videos showcase NSP progam impact, strategies, and success stories.

On the other hand, a homeowner.Micky talkatively: fielding abel House Votes to Rescind $1B in neighborhood stabilization grants house panel Votes to End Obama Foreclosure-Prevention Programs – The House. on the neighborhood stabilization program, which gives federal money to states and localities to restore communities hit by foreclosures and abandoned properties.

The House passed a bill (HR 861) on Wednesday that would rescind $1 billion of funding under HUD’s Neighborhood Stabilization Program (NSP). NSP grantees can create "land banks" to assemble, temporarily manage, and dispose of vacant land for the purpose of stabilizing neighborhoods and encouraging re-use or redevelopment of urban property.

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