NEIGHBORHOOD STABILIZATION PROGRAM (NSP) ACTIVITIES
The Neighborhood Stabilization Program (NSP) is a grant that is administered by the Virginia Department of Housing and Community Development (DHCD) and that is funded under the U. S. Department of Housing and Urban Development’s (HUD) Housing and Economic Recovery Act of 2008. The program was designed to stabilize existing neighborhoods because of the foreclosure crisis. Foreclosed and abandoned properties are purchased, rehabilitated and sold to low to moderate and middle-income families; these families incomes do not exceed 120% of area median income.
The Chesapeake Redevelopment and Housing Authority (CRHA) partners with the City of Chesapeake and DHCD and manages the NSP project.
To be listed; Buyers must meet income requirements.