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Plans for Neighborhood Stabilization Program 2

An overview of our intended use of NSP 2 funds.

Program Summary

To help provide a measure of stability to distressed areas across the country, Self-Help will leverage $11.76 million in NSP2 funds with our own capital to provide acquisition, rehab, construction, and permanent financing for at least 300 units of NSP-eligible housing. Self-Help will make this financing available in the following designated markets:  

View our approved amendment, updating eligible census tracts and our recently proposed amendment.
  • New Haven, CT
  • Atlanta, GA
  • Chicago, IL
  • Los Angeles, CA,
  • targeted communities in California’s Northern Central Valley
  • targeted communities in California’s Bay Area.

In order to assist these communities and to meet our program goals, Self-Help is actively seeking out housing developers in these markets in need of project financing for multi-family residential properties. As illustrated in the multi-family product sheet, we offer flexible terms to qualified borrowers and projects, structuring loans around the unique needs of the project. Additional financing for single-family redevelopment projects is also available; however, Self-Help is targeting all of its construction and permanent loan products at affordable housing developers and is not currently in a position to provide financial support to individuals seeking to purchase a foreclosed property.

Please e-mail us if you have any questions about our NSP program.

 

For more information on our NSP2 program, you can review our application, or view our quarterly progress reports.

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