NSP2 Dollars: Just the Ticket for LIHTC Developers

By Caitlin Jones
May 18, 2011 1 min read

Tax Credit Advisor, May 2011: Federal Neighborhood Stabilization Program dollars, especially those from the second funding round (NSP2), can be an attractive source of funding for affordable multifamily rental housing projects, including those using low-income housing tax credits, panelists advised at the National Housing & Rehabilitation Association’s recent 2011 Annual Meeting.

They said many NSP2 grantees still have funds available to commit and are looking for eligible projects.

The NSP program was established in 2008 to provide federal grants through states and localities to revitalize distressed neighborhoods with high levels of foreclosed homes and vacant and abandoned properties. The monies can be utilized for a variety of housing purposes, including the purchase, renovation, and re-sale of foreclosed homes, and the acquisition and rehabilitation of properties for use as affordable rental housing. New construction is permitted in certain instances. Grantees often provide the monies to developers as soft loans.

Leveraging NMTC and GGRF

A Synergistic Approach to Community Development

Jennifer Kirkley & Regan St. Pierre • September 13, 2024 6 min read

Increasingly, climate solutions are central to preserving and creating wealth and well-being in communities across the country.

What Can Be Done About Insurance?

NH&RA Panelists Explore Ways to Rein in High Insurance Costs for Affordable Housing

Pamela Martineau • September 1, 2024 6 min read

Meet with your underwriter in person, provide as much data as possible on relevant inspections and offer photos of improvements you’ve made to affordable housing properties. These were just a few of the tips offered at the National Housing & Rehabilitation Association’s Summer Institute Panel: “What Can Be Done About Insurance?”

Rainbow Housing: Transforming Resident Services from Within

Abram Mamet • September 1, 2024 9 min read

For most organizations, radical shifts in market strategy and company makeup generally come after crises. For Rainbow Housing Assistance Corporation (Rainbow), that radical shift came not as a result of significant challenges, but as a way to leverage successful internal practices to better serve the affordable housing industry.