Congress passed and President Bush signed the Housing and Economic Recovery Act of 2008 (HERA) that allowed the U.S. Department of Housing and Urban Development (HUD) to provide a one-time $3.92 billion source of CDBG funds for emergency assistance to state and local governments to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment and blight within their communities.  Polk County was allocated approximately $14.5 million.  This is the Neighborhood Stabilization Program (NSP).

Polk County is using NSP funds to acquire foreclosed homes and property; to demolish or rehabilitate vacant properties; and/or to offer down-payment and closing costs assistance to low to moderate-income homebuyers (household not to exceed 120% of area median income).