Services
Neighborhood Stabilization Program (NSP)
The Neighborhood Stabilization Program, which was created under the Housing and Economic Recovery Act of 2008 (HERA), provides funding to local municipalities to assist with the acquisition and rehabilitation of foreclosed properties in an effort to stabilize communities impacted by the massive foreclosure crisis that currently exist. Meridian has been at the forefront of assisting local governments with crafting plans that identify priority areas for which funding would be targeted, viable projects, sub-areas with high concentrations of foreclosed properties, lending partners and funding amounts. The NSP has been channeled through the Community Development Block Grant (CDBG) program. Therefore, all CDBG program requirements apply unless exemptions were provided for via the federal legislation. Meridian currently operates the NSP in Miami-Dade County, City of Homestead, Citrus County and other areas throughout the state. Meridian has also been recruited as part of a nation-wide technical assistance team to provide training to municipalities that are struggling to successfully implement their program priorities. This broader technical assistance and training effort is spearheaded by one of our partnering firms, ICF, International – whose core business functions center around providing technical assistance and training with respect to international community and economic development initiatives in the areas of housing, infrastructure, growth management, environmental and other socially impacting issues.