Despite South Carolina’s overwhelming success with the Neighborhood Stabilization (NSP) 1 program, SC was not successful in Round 2.

On January 14, 2010, HUD awarded a combined total $1.93 billion in NSP 2 grants to 56 grantees nationwide. This includes 33 consortiums at a regional level and four national consortiums carrying out activities in target areas throughout the country. These grantees were selected on the basis of foreclosure needs in their selected target areas, recent past experience, program design and compliance with NSP2 rules. On 29 States were funded.

The Neighborhood Stabilization Program 2 (NSP2) was established to stabilize neighborhoods whose viability has been and continues to be damaged by the economic effects of properties that have been foreclosed upon and abandoned. NSP2, a term that references the NSP funds authorized by Title XII of Division A of the American Recovery and Reinvestment Act of 2009, (the Recovery Act) provides grants to states, local governments, nonprofits and a consortium of public and or private nonprofit entities on a competitive basis.

South Carolina was highlighted in a recent Federal Reserve bank Marketwise as being one of the higher NSP 1 performers. Read more at http://www.sccommunityloanfund.org/pdfs/angles_communityperspectives.pdf

Could the decision have been political? Or was it that South Carolina simply did not rank as high in foreclosures? SC State Housing Finance and Development Authority has requested a debriefing from HUD. As partners in this program we hope to continue seeking additional opportunities to bring these resources to SC!

Join us in this effort, let Congress know SC does want access to stimulus funds and that with unemployment at over 12% and foreclosures up 67% from last year SC needs help too!