Neighborhood Stabilization Program (NSP3) funding received by the City of Milwaukee under the Dodd-Frank Wall Street Reform and Consumer Protection Act has allowed the City to expand the NSP program area to include additional portions of the Sherman Park and Layton Boulevard West Neighborhoods.
A strong demand existed within these neighborhoods for the NSP Homebuyer Assistance and Rental Rehabilitation programs during the first round of NSP funding (NSP1) and the City is pleased to make these programs available in these neighborhoods once again. Additionally, NSP3 funds will be used to allow the City and its development partners to continue to purchase, rehabilitate, and resell foreclosed properties to owner occupants in these neighborhoods under the NSP acquisition/rehab program, transforming distressed properties into attractive, move-in ready homes.
Updated program area maps are available at here. The interactive foreclosure map on the City’s website (http://www.mkedcd.org/foreclosures/) has also been updated so properties in the expanded area will now be identified as eligible for NSP programs.
If you have any questions about this change or any of the City’s NSP programs, please contact NSPinfo@milwaukee.gov.