Neighborhood Stabilization Program 2

The Reno Housing Authority, in combination with several other entities, submitted an application for the US Department of Housing and Urban Development's Neighborhood Stabilization Program 2 (NSP2) grant. This grant was awarded in January of 2010. The $20,995,000.00 grant will have a significant impact on the foreclosure issues facing Reno, Sparks, and Washoe County. The Housing Authority will be purchasing and rehabilitating up to 200 foreclosed homes and either selling or renting them to qualified applicants. This will bring a significant amount of money into the area to purchase and rehabilitate foreclosed homes and properties.

NSP2 activities are targeted towards two groups of people. Potential homeowners will be people making between 50% and 120% of the Area Median Income (AMI), and potential renters will be people making less than 50% of AMI. The AMI chart for Washoe County is as follows:

Area Median Income (AMI)

Family Size	1	2	3	4	5	6	7	8
50% AMI	24,950	28,500	32,050	35,600	38,450	41,300	44,150	47,000
120% AMI	59,800	68,350	76,900	85,450	92,300	99,100	105,950	112,800

Further information related to NSP2 is located on these pages:

Contractors and Professional Services
NSP2 Application Submitted to HUD
Quarterly Reports Submitted to HUD
HUD-required Homeownership Credit Counseling
Homes Available for purchase or rent