Clayton Neighborhood Stabilization Program

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.

It is our goal to acquire, rehabilitate and resell at least 83 houses over the next 10 months in order to meet the funding deadline set by HUD.

Clayton County selected the following five eligible activities:

Acquisition of foreclosed single family residential property
Rehabilitation of acquired properties
Sell rehabilitated houses at cost to eligible, qualified buyers
Provide down payment and closing cost assistance to buyers
Provide home buyer counseling and home owner training for buyers

The County through a competitive Request For Proposals has selected four 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.

Download NSP1 Substantial Amendment (pdf)

NSP 3 Substantial Amendment (pdf)