City of Grand Prairie : Neighborhood Stabilization Program

Program Design

The Department of Housing and Urban Development (HUD) established the Neighborhood Stabilization Program (NSP) to specifically provide targeted emergency assistance for state and local governments to acquire and redevelop foreclosed properties.

On Nov. 4, 2008, the Grand Prairie City Council approved the Housing and Neighborhood Services staff to submit an application for NSP funds. The city of Grand Prairie received a $2,267,290.00 grant to fund activities creating home ownership opportunities and stabilize neighborhoods through the acquisition and rehabilitation of foreclosed properties in Grand Prairie. The NSP funds will be used for the following programs:

Foreclosed Home Acquisition and Resale Program (4-Gov)

Assists qualified government employees (including federal, state, county, city and school district employees) working in Grand Prairie to purchase foreclosed homes.
Foreclosed homes acquired and rehabilitated by the city are resold to qualified government and school district employees at a discount.
The 20 percent discount includes half of the down payment and assists with closing costs, fees and a principal reduction. [click for program revision details]

Foreclosed Home Purchase Assistance Grant Program (4-Home) [See brochure]

Assists qualified low, moderate and middle-income families purchase foreclosed homes in Grand Prairie.
Provides up to a $20,000 grant to assist qualified buyers with down payment, closing costs and rehabilitation costs of foreclosed homes in approved census tract.
House must be purchased at 1% discount from independently appraised value unless otherwise approved by the city.
UPDATE: The city of Grand Prairie is in the process of receiving additional funding through the Texas Department of Housing and Community Affairs NSP-PI program. More information TBA.

NSP Quarterly Performance Report Ending June 30, 2009 [download PDF]

NSP Quarterly Performance Report Ending Sept. 30, 2009 [download PDF]

NSP Quarterly Performance Report Ending December, 2009 [download PDF]

NSP Quarterly Performance Report Ending March 31, 2010 [download PDF]

NSP Quarterly Performance Report Ending June 30, 2010 [download PDF]

NSP Quarterly Performance Report Ending September 30, 2010 [download PDF]

NSP Quarterly Performance Report Ending December 31, 2010 [download PDF]

NSP Quarterly Performance Report Ending March 31, 2011 [download PDF]

NSP Quarterly Performance Report Ending June 30, 2011 [download PDF]

NSP Quarterly Performance Report Ending September 30, 2011 [download PDF]

NSP Quarterly Performance Report Ending December 31, 2011 [download PDF]

NSP Quarterly Performance Report Ending March 31, 2012 [download PDF]