In 2008, Congress appropriated funds for the Neighborhood Stabilization Program (NSP) to stabilize neighborhoods whose viability has been and continues to be damaged by the mortgage foreclosure crisis in the nation. The U.S. Housing and Urban Development (HUD) has federal oversight responsibility for NSP, nearly $6 billion awarded to them in two rounds of funding under this program (known as NSP1 and NSP2). Although some rules have changed since the first round of funding, the need remains to comply with National Environmental Policy Act (NEPA), state environmental impact assessments, and Federal laws and authorities. This paper presents an overview of the program, highlights of environmental compliance, and benefits of a three‐tiered review approach.
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