Clayton County Neighborhood Stabilization Program
HUD, under Title III of the Housing and Economic Recovery Act, 2008 (HERA) appropriated $3.92 billion for emergency assistance for redevelopment (rehabilitation) of foreclosed residential properties.
Clayton County was awarded $9,732,126 based on HUD’s high risk formula. The formula took into consideration the number of existing foreclosures, sub-prime mortgages or houses in danger of foreclosure. In 2010, Clayton County was awarded $3,796,167 in funds for NSP3 through the Dodd-Frank Act.
As of June 2014, we have acquired, rehabilitated and sold over 200 houses.
Clayton County selected the following five eligible activities:
- Acquisition, rehabilitation and resell of foreclosed single family residential property
- Provide mortgage assistance and closing cost assistance to buyers
- Provide home buyer counseling and home owner training for buyers
- Demolition of blighted properties
- Redevelopment of vacant lots by contructing new homes
The County through a competitive Request For Proposals has selected two Asset Management Teams to complete the work under the Neighborhood Stabilization Program. Each Asset Management Team consists of a State Licensed General Contractor and a Licensed Real Estate Company experienced in workforce housing.
To learn more please browse through the Web site and learn more about the program and how to participate
Reporting
NSP Substantial Amendment
Pursuant to the Federal Register/Vol. 73, No. 194, October 6, 2008, Section II. B. statutory and regulatory provisions governing the CDBG programs, the contents of the NSP substantial amendment to the Annual Action Plan must be posted on the Jurisdiction's Web site for citizen information purposes.
