HUD awarded grants to a total of 309 grantees including the 55 states and territories and selected local governments to stabilize communities hardest hit by foreclosures and delinquencies. The regulations for NSP1 grantees are noted at 73 FR 58330. Revisions to these regulations are noted in the NSP Bridge Notice. 

NSP1 grantees were selected on the basis of statutory objectives and a greatest need formula developed by HUD. Each of the 50 states and Puerto Rico received a minimum award of $19.6 million. Insular areas and the District of Columbia were also stipulated to receive a direct award. The other grantees that received direct awards were selected on the basis greatest need factors (e.g. highest rate of foreclosures, sub prime mortgages, abandoned homes, etc.) with a minimum grant threshold of approximately $2 million. The map below lists each NSP grantee allocation by state.

Under NSP1, grantees have 18 months from the date HUD signed their grant agreements to obligate these funds and four years to expend allocations (not including program income). HUD expects that grantees will have contracts signed or, at a minimum, made written offers for properties within 18 months. Options or other non-binding instruments are not acceptable.

NSP grantees may use up to 10% of their allocations for administrative and planning costs. In addition, up to 10% of the program income generated from NSP funded activities may be used for administrative and planning costs. For all grantee including states, the 10% limitation applies to the grant as a whole.

For more information, visit: http://www.hud.gov/offices/cpd/communitydevelopment/programs/neighborhoodspg/nsp1.cfm