Housing Assistance: An Inventory of Fiscal Year 2010 Programs, Tax Expenditures, and Other Activities

U.S. Government Accountability Office

Administering Agency/Entity	Department of Housing and Urban Development
Short Description	Provides grants to states, local governments, and nonprofits to help stabilize communities negatively affected by foreclosed and abandoned homes. Allowable uses of Neighborhood Stabilization Program (NSP) funds include acquiring and rehabilitating or demolishing such properties. Congress authorized three rounds of NSP funding, two of which provided grants to states and local governments on a formula basis, and one of which provided grants to states, local governments, and nonprofits on a competitive basis.
Primary Purpose	Emergency assistance to housing market or current homeowner
Type of Housing Supported	Both
Type of Assistance	Grant
Fiscal Year 2010 Obligations	$1,980,000,000; the NSP was established by the Housing and Economic Recovery Act of 2008 and funded by that legislation at a level of $3.92 billion, obligated during fiscal year 2009. The American Recovery and Reinvestment Act of 2009 provided $1.98 billion in additional funding, obligated in 2010. The Dodd-Frank Wall Street Reform and Consumer Protection Act provided another $1 billion available in fiscal year 2011.