NYS Neighborhood Stabilization Program 3 (NSP3)

The U.S. Department of Housing and Urban Development (HUD) has been authorized to
administer the federal Neighborhood Stabilization Program 3 (NSP3). NSP3 provides grants to
states and local governments to redevelop vacant, foreclosed and abandoned properties into
affordable housing, land bank foreclosed homes, and/or demolish blighted structures. To view
the notice in the State Register, click here.

The allocation under NSP3 for the New York state program is $5 million and funds will be
administered by the Office of Community Renewal. There will be a public comment period will
begin on Wed., Aug. 29, 2012 and end on Wed., Sept. 12, 2012. The New York State NSP3
Substantial Amendment to the 2010 Action Plan will be available during the public comment
period on the New York State Homes and Community Renewal (HCR) website, www.nyshcr.org.

Members have used donated land and abandoned buildings in the past to develop affordable
housing, and in some cases, affordable land acquisition was the only way the financing could be
completed for the project. Written comments to HCR must be postmarked no later than Wed.,
Sept. 12, 2012 and addressed to: Jason Pearson.

(August 28, 2012)