The City of Lowell’s Division of Planning and Development is soliciting proposals for the use of up to $300,000 in Neighborhood Stabilization Program (NSP) funds for the purchase and/or redevelopment of abandoned or foreclosed homes or residential properties that will be used as permanent rental housing for households whose incomes do not exceed 50% of the area median income.

Projects will be required to be located in NSP eligible block groups and meet requirements of the Housing and Economic Recovery Act. 

NSP funds must be obligated no later than September 1, 2010.  All NSP funds must be expended by September 1, 2012.

The City will accept applications for the use of NSP funds on a rolling basis and will begin reviewing proposals on December 11, 2009. 

Beginning November 18, 2009 a Notice of Funding Availability may be obtained at the City of Lowell DPD, 50 Arcand Drive, 2nd Floor.  To obtain an electronic copy of the NOFA or for information about this funding opportunity contact Allison Lamey at (978) 446-7200 or at alamey@lowellma.gov.