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Presentation, discussion, and possible action regarding approval of an Invitation to Apply for Neighborhood Stabilization Program funding
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RECOMMENDED ACTION
recommendation
WHEREAS, the Department has accrued approximately $4,000,000 in available Neighborhood Stabilization Program (NSP) 1 Program Income as of November 2023;
WHEREAS, the NSP Allocation Plan, as amended, allows TDHCA to redirect uncommitted amounts or additional allocations of NSP funding to eligible activities;
WHEREAS, Real Gardens, a supportive housing project, applied for the 2023-2 HOME-ARP Rental Notice of Funding Availability, but that funding source is incompatible with the proposed ownership structure of the Development; and
WHEREAS, staff recommends the Board approve authorization to release an Invitation to Apply for NSP 1 Program Income in the amount of $4,000,000, encouraging housing projects that were ineligible under the 2023-2 HOME-ARP NOFA;
NOW, therefore, it is hereby
RESOLVED, that the Invitation to Apply is hereby approved; and
FURTHER RESOLVED, that the Executive Director and his designees be and each of them hereby are authorized, empowered, and directed, for and on behalf of the Department, to release the Invitation to Application for NSP 1 Program Income to be released for Application, and to make any technical corrections or perform such other acts as may be necessary to effectuate the foregoing.
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BACKGROUND
The Neighborhood Stabilization Program (NSP) is a HUD-funded program authorized by H.R. 3221, the "Housing and Economic Recovery Act of 2008" (HERA), as a supplemental allocation to the Community Development Block Grant (CDBG) Program through an amendment to the existing State of Texas 2008 CDBG Action Plan. From time to time, the Department accrues enough program income from NSP to be able to release a NOFA or Invitation to Apply for eligible activities as outlined in the NSP Allocation Plan, as amended.
Real St. Supportive Housing submitted an appli...
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