Neighborhood Stabilization Program 3
The Department of Housing and Urban Development (HUD) has awarded Sarasota County $3,949,541 and the City of Sarasota $1,038,811 in Neighborhood Stabilization Program 3 (NSP3) funds to purchase and rehabilitate foreclosed homes. These amounts were determined by a formula grant allocation.
The Sarasota County Commission authorized staff to prepare an NSP3 application to use these funds in the City of North Port.
The City of Sarasota Commission authorized staff to prepare an NSP3 application to use these funds in two neighborhoods adjacent to the current NSP2 area, Gillespie Park and Park East neighborhoods.
The key goal of the NSP3 program is to stabilize neighborhoods while also providing affordable housing.