Save the Dream Ohio : Communities Recovering from Foreclosure

If your community has experienced multiple foreclosures, you are likely seeing the consequences of foreclosure all around you. Research shows that vacant, foreclosed homes lower surrounding property values, attract crime, create safety hazards, and can become neighborhood eyesores due to lack of maintenance.

• Neighborhood Stabilization Program
• The Ohio Department of Development administers the NSP program on behalf of the State of Ohio. More information on Ohio's NSP funding is available from the Department of Development.
  • Ohio Neighborhood Stabilization Program award recipients
  • Ohio Neighborhood Stabilization Action Plan
• NSP Round One – In 2008, Congress created the $3.9 billion Neighborhood Stabilization Program (NSP), administered by the U.S. Department of Housing and Urban Development (HUD), to give states and localities funding to acquire, maintain, rehabilitate, repair, and dispose of vacant and abandoned foreclosed homes. In total, the State of Ohio and its jurisdictions received more than $258.1 million of NSP funds, with HUD awarding $141.2 million directly to 22 cities and counties and $116.8 million to the State of Ohio for distribution to cities, counties, and regions.
  • NSP Round One HUD allocations
• NSP Round Two – In 2009, Congress announced a second round of NSP funding in conjunction with the American Recovery and Reinvestment Act. The second round of funding is competitive. On January 14, 2010, the U.S. Department of Housing and Urban Development awarded the State of Ohio a $25.4 million NSP 2 grant. Ohio is the only state in the nation receiving direct funding. As part of the American Recovery and Reinvestment Act of 2009, Congress allocated $2 billion to the Neighborhood Stabilization Program 2. The funds were awarded competitively to eligible local governments, states, and nonprofit organizations. Ohio entities that received direct allocations from the U.S. Department of Housing and Urban Development include the City of Columbus, City of Dayton, City of Springfield, City of Toledo, Cuyahoga County Land Reutilization Corp., Hamilton County, and The Community Builders, Inc. Including the State of Ohio direct allocation, Ohio received a total of $175.2 million

• Affordable Rental Housing Initiative
• The Ohio Department of Development has allocated $29.2 million in Ohio NSP funds to the Affordable Rental Housing Initiative, which encourages nonprofit organizations and public housing authorities to redevelop demolished, foreclosed or vacant structures into affordable rental housing serving households with incomes at or below 50 percent of the area median income. For more information on this effort, visit, which is a collaborative venture between the Ohio Housing Finance Agency and the Ohio Department of Development, visit OHFA's Neighborhood Stabilization webpage.