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Neighborhood Stabilization Program Round 2 (NSP2)
In early 2010, CPLC as the lead applicant for a national consortium of high-capacity, non-profit affordable housing developers, was awarded $137,107,133 in federal funding to revitalize 15 urban and rural markets in eight states (AZ, CA, TX, CO, NM, IL, PA, MD) and the District of Columbia. The selected census tracts have been negatively impacted by foreclosed upon and abandoned properties. The U.S. Department of Housing and Urban Development selected the CPLC/NALCAB Consortium (the Consortium) to be a grantee for Neighborhood Stabilization Program Round 2(NSP2) funding.
This award represents one of the largest single federal investments ever made that specifically targets predominately Latino and low-income communities. This recognizes not only the demographic growth of the Latino community, but also the extent to which Latinos and low-income households have been disproportionately affected by the foreclosure crisis.
Under NSP2, Chicanos Por La Causa will have the opportunity to help Arizonans buy homes, as well as help revitalize neighborhoods that have been negatively impacted by foreclosed upon or abandoned properties. CPLC will be acquiring single family properties in approved census tracts in Maricopa and Santa Cruz counties for rehabilitation and resale to owner occupants whose incomes are equal to or less than 120% of the Area Median Income. Income qualified buyers, depending on need, may be able to receive direct assistance for closing costs and the reduction of the initial principal balance.
To learn more about the scope and capacity of CPLC to carry on this national project, please watch the video below:
CPLC’s NSP2 Goal
CPLC is committed to assist low, moderate, and middle income homebuyers by offering safe, habitable, and efficient homes at affordable prices. We want to assist families and individuals achieve their dream of purchasing a home. CPLC can help take the confusion and uncertainty out of the home-buying process.
Please continue to visit our website for updated information about upcoming events and new properties being listed for sale.