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.

Breaking Ground

Jennifer Leimaile Ho, Minnesota Housing Commissioner and Incoming Chair of National Council of State Housing Agencies

Pamela Martineau • December 1, 2024 10 min read

Earlier this fall, Jennifer Leimaile Ho was elected chair of the National Council of State Housing Agencies’ (NCSHA) 2025 Board of Directors. Ho is the Commissioner of Minnesota Housing, having been appointed by Governor Tim Walz in January 2019 and reappointed in 2023.

“Business as Usual”

Leaders in Equity Express Optimism Despite an Uncertain Future

Abram Mamet • December 1, 2024 9 min read

Any outside observer may assume some unease amongst the low-income housing industry. Buffeted on the one hand by residual stressors from the COVID-19 pandemic and on the other by the uncertain prospects of an incoming federal administration keen on cutting spending and shrinking government programs, the affordable housing landscape is experiencing an inflection point.

NCSHA Recognizes Stand-Out Affordable Housing Programs and Initiatives

Pamela Martineau • December 1, 2024 7 min read

This fall, the National Council of State Housing Agencies (NCSHA) recognized 17 programs offered by state housing finance agencies across the nation that creatively developed tools to tackle their communities’ affordable housing challenges.