The Neighborhood Stabilization Program (NSP) was created in 2008 as part of the government’s Housing and Economic Recovery Act. The NSP allows municipal housing authorities such as SHA to use federal funds to acquire and rehabilitate properties that had been foreclosed upon.
Housing authorities can resell a property in order to refund the program, or they can keep the property in their portfolio, as a rental property. To date, SHA has purchased and rehabbed 7 properties; some have been sold and some are used as rental properties.
Began construction in Fall 2012 and enlisted the students from Sanford Vocational Building Construction Program. Completed in the Summer of 2014. This property remained in SHA's portfolio.
Constructed during the Summer of 2011, 28 Prescott was completely demolished and rebuilt. This property remained in SHA's portfolio.
14 Sherburne Street was purchased in the Spring of 2010 for rehabilitation. Construction was completed in the Summer of 2010. This property remained in SHA's portfolio.
6 Kirk Street was purchased, rehabed, and sold to refund the NSP.
7 Kirk Street was purchased, rehabed, and sold to refund the NSP.
19 North Avenue was purchased, rehabed, and sold to refund the NSP.
