Neighborhood Stabilization Program 2
LiveEvanston.net
To find an updated list of for-sale properties visit the Live Evanston website.
Bid Packages
Details regariding previous bid packages can be found on the subcontractor page.
Emerson Square
More information about this new development in west Evanston will be available soon. Below is the presentation given at the October 11, 2011 meeting
Emerson Square Public Meeting Presentation 10.11.11
NSP2 Overview
The Neighborhood Stabilization Program 2 (NSP2) is funded under the American Recovery and Reinvestment Act of 2009 (ARRA). The Department of Housing and Urban Development (HUD) is managing this $1.93 billion program to help stabilize neighborhoods that have been hardest hit by the effects of foreclosed and abandoned properties. The City of Evanston is receiving $18.15 million to accomplish the following:
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Acquire and rehabilitate 100 housing units of foreclosed or abandoned housing for sale or rental by households at or below 120% of the area median income (currently $90,960 for a family of four)
- Property types may include single-family homes, townhomes, small flats, multi-family buildings and condominiums, based on availability
- Provide a minimum of eight hours of housing counseling for homebuyers
- Provide soft second mortgages to home purchasers
- Funds not used for the required 100 units of foreclosed/abandoned housing will be used for a new housing development, which will be re-scaled or phased based on funding (proposed new development was 98 units)
The target geography for NSP2 is Census tracts 8092 and 8102. These tracts have the highest percentage of foreclosed and abandoned properties in the city.
