Documents Available Online:

The following maps show proposed NSP Target Areas, as referenced in the Draft Action Plan/Substantial Amendment (Below). Highlighted areas are those with a HUD Foreclosure Rate of 6.5% of greater (Census Tract/Block Group) and which contain at least 1.4% of the State's subprime loans (by Zip Code).

Map	Statewide	Providence Metro	Data
NSP Target Areas	Click Here	Click Here	Click Here

Following is the detailed individual data sources used to identify the above target areas.

Percentage of Total Subprime Loans	Click Here
HUD-Predicted Foreclosure Rates	Click Here	Click Here	Click Here	Click Here	Click Here (HUD Site/Data)
Percentage of Foreclosures*	Click Here (pdf)			Click Here (Excel)
HUD, LMMI (Middle Income) Areas**	Click Here	Click Here	Click Here	Click Here	Click Here

* = used to calculate expenditure goals for each community w/target areas.
** = used to document compliance with national objective (in some instances).

 

	FINAL Substantial Amendment/Action Plan (incorporating amendment) (Word) FINAL Substantial Amendment/Action Plan (incorporating amendment) (Adobe - pdf) (Including Summary of Public Comments and Responses) Los documentos estan disponibles en Espanol. (Documents Available in Spanish)
	Target Area Census Tracts - Updated 2/09 (Excel) (Also see maps above) Target Areas Census Tracts - Updated 2/09 (pdf)
	Signed and Dated SF-424 (Standard Form - Application for Federal Financial Assistance)
	Performance Report for Period ended June 30, 2009. (Click Here)
	State of R.I. Consolidated Plan
	Public Notification, Conflict of Interest Disclosure

Adobe Acrobat Document Some files may be in PDF format and require Adobe Acrobat Reader to view and print them. If you require the free Acrobat Reader click here.

Status:

Parties interested in viewing a list of projects funded with the State of Rhode Island, Neighborhood Stabilization Program can CLICK HERE. Charts on this page will be updated regularly, list projects/developers and track the State's status in meeting program targets/objectives. Contact information for project sponsors is also listed for anyone interested in applying for the assisted units.

Summary:

 

Funds will be targeted to areas:
	With Greatest percentage of foreclosures;
	Highest percentage of homes financed by subprime mortgage related loans;
	Identified as likely to face a significant rise in rate of home foreclosures.

 

Eligible Activities include:
	Establish financing mechanism for purchase and redevelopment of foreclosed upon homes and residential properties, including such mechanisms as soft-seconds, loan loss reserveds, and shared-equity loans for low- and moderate- income homebuyers;
	Purchase and rehabilitate homes and resdiential properties that have been abandoned or foreclosed upon, in order to sell, rent, or redevelop such homes and properties;
	Establish land banks for homes that have been foreclosed upon;
	Demolish blighted structures;
	Redevelop demolished or vacant properties.

Note(s): Foreclosure prevention is NOT an eligible activites under this program. The Statute includes various other resources, not detailed here, which will address this need.

Purchase and sale price restrictions are contained in the regulations.

The program targets persons earning up to 120% of Area Median Income (AMI). However, a minimum of 25% of the resources must be used to house persons at or below 50% of AMI.