This just in from the Neighborhood Stabilization Program (NSP) in Hennepin County.
The U.S. Department of Housing and Urban Development’s (HUD) new Neighborhood Stabilization Program (NSP) provides emergency assistance to states and local governments for the redevelopment of abandoned and foreclosed homes. The focus of this program is the purchase, management and resale of foreclosed and abandoned properties for the purpose of stabilizing neighborhoods. Hennepin County has received an allocation of $3,885,729 from HUD under NSP. In addition, Hennepin County submitted a competitive NSP application to Minnesota Housing Finance Agency (MN Housing) and was awarded $4,715,
NSP has a list of recommendations on their web site for homebuyers who are interested in pursuing funding.