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2012 Annual Report

SUPPORTIVE SERVICES

FEDERAL RECOVERY/STIMULUS PROGRAM: $27,271,233

Neighborhood Stabilization Program 3 
Broward County Housing and the 13 entitlement communities have been allocated an additional $23.7 million in funding for the Neighborhood Stabilization Program (NSP3) under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The guidelines are similar to NSP1; however, the target areas have changed in order to address those areas of the County grappling with the most severe instances of foreclosed and abandoned properties. Broward County Housing, which is the grantee for *18 cities, and **13 entitlement communities will use NSP3 funds to assist with acquisition, repair, and sale of foreclosed homes. The allocation formula released by the Department of Housing and Urban Development (HUD) shows Broward County and the entitlement municipalities received a total allocation of approximately ***$27.33 million. The following strategies were expended in the following dollar amounts: 

 Activity/Eligible Use FY 12  Budget Amount  Total Funds Expended
1. Low/Moderate/Middle Income (LMMI)
Acquisition /Rehabilitation /Resale

$15,314,678

 $3,214,113

2. Purchase Assistance (LMMI)

 $1,892,455

 $786,570

3. Low/Moderate/Middle Income
(LH Acquisition) /Rehabilitation /Resale

 $6,056,802

 $2,268,932

 4. Purchase Assistance (LH)

 $924,974

 $178,050

 5. Clearance & Demolition

 $355,201

 $132,308

 6. Program Planning & Administration
(10 percent of total grant awarded)

 $2,727,123

 $854,718

 Total

$27,271,233

 $7,434,691

Low/Moderate/Middle Income (LMMI) – 51 percent to 120 percent Area Median Income (AMI)
Low Housing (LH) – Less than 50 percent (AMI) 

*Coconut Creek, Cooper City, Dania Beach, Hallandale Beach, Hillsboro Beach, Lauderdale Lakes, Lauderdale-
By-The-Sea, Lazy Lake, Lighthouse Point, North Lauderdale, Oakland Park, Parkland, Pembroke Park, Sea
Ranch Lakes, Southwest Ranches, West Park and Wilton Manors.

**Coral Springs, Davie, Deerfield Beach, Fort Lauderdale, Hollywood, Lauderhill, Margate, Miramar, Pembroke
Pines, Plantation, Pompano Beach, Sunrise, Tamarac

***Under NSP3, grantees have two years of the date HUD signed their grant agreements to expend 50% of these
funds and 3 years to expend an amount equal to the allocations.
 

Neighborhood Stabilization Program 3 chart

 CHART DATA:

  • Acquisition / Rehabilitation / Resale (LMMI):  $3,214,113
  • Purchase Assistance:  $2,268,932
  • Program Planning & Administration:  $854,718
  • Acquisition / Rehabilitation / Resale (LH):  $786,570
  • Purchase Assistance (LMMI):  $178,050
  • Clearance & Demolition:  $132,308

  

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