Neighborhood Stabilization Program

Housing Repair
About the Program
The Neighborhood Stabilization Program (NSP) is part of the national effort to restore homes and renew neighborhoods hit hardest by the recent housing crisis. The NSP signals opportunity for homebuyers and stronger neighborhoods with reinvestments that go straight to the heart of our community.

The City of Fort Myers was allocated $2,297,318.00 for the Neighborhood Stabilization Program 1 (NSP1) funds and $1,537,642.47 in Neighborhood Stabilization Program 3 (NSP3) funds through HUD Community Development Block Program. 
    
Fund Usage
The city is utilizing NSP funds in the following ways:
  • Purchase foreclosed and vacant single or multi-family residential properties in target areas
  • Improve property condition through rehabilitation
  • Incorporate energy saving features
  • Resell to households with income less than $74,784
  • Provide affordable rental units
  • Offer financial aid in the form of a silent 2nd mortgage and help with reasonable closing costs

Focusing on vacant foreclosed properties, NSP blends the financial resources of the City of Fort Myers with the talents of public and private-sector housing professionals. NSP connects potential homebuyers with homes that have been renovated in a target area within the City of Fort Myers. To help build the skills for success, all NSP buyers must take at least 8 hours of homebuyer education classes.