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109.00.10-I. Introduction

AR ADC 109.00.10-IArkansas Administrative Code

West's Arkansas Administrative Code
Title 109. Development Finance Authority
Division 00.
Rule 10. Neighborhood Stabilization Program
Ark. Admin. Code 109.00.10-I
109.00.10-I. Introduction
Currentness
The Neighborhood Stabilization Program (NSP) for Arkansas is authorized by the Housing and Economic Recovery Act (“HERA”) (Public Law 110-289), which was signed into law on July 30, 2008. Originally introduced as HR 3221, HERA Division B, Title III establishes the NSP grant under the Emergency Assistance for Redevelopment of Abandoned and Foreclosed Homes heading. NSP was revised in February 2009 with the passage of the American Recovery and Reinvestment Act of 2009 (ARRA). The NSP is administered by the U.S. Department of Housing and Urban Development (“HUD”) and is considered a special Community Development Block Grant (“CDBG”) allocation. CDBG allocations for Arkansas are administered by statute by the Arkansas Economic Development Commission (“AEDC”). Arkansas was allocated $19,600,000 in NSP funds by HUD.
Arkansas Development Finance Authority (“ADFA”) has been designated by AEDC as administrator of NSP funds for the State of Arkansas. This designation is by virtue of a Memorandum of Understanding (MOU) executed by AEDC and ADFA dated October 7, 2008.
ADFA will administer NSP effectively and efficiently under the housing conditions that exist in the State of Arkansas (the “state”) and with all practical safeguards against waste or fraud. ADFA will practice and advocate innovation, flexibility, and expansion in program design to address unmet housing needs and to address foreclosed and abandoned properties throughout the state. To that end, this policy and procedures manual is presented to provide an overview of ADFA policies and procedures as they pertain to NSP and step-by-step guidance on the implementation of NSP projects in the State of Arkansas. This manual is organized into the following sections:
II. Purpose of the Neighborhood Stabilization Program
III. General Requirements of NSP
IV. The NSP Rental Housing Program
V. The NSP Homeownership Housing Program
VI. Glossary
VII. Appendix I (Needs Score)
This manual is not meant to be a substitute for NSP regulations, but as a supplement to them. It is not exhaustive regarding all considerations affecting the use of NSP funds. While careful consideration and due care has been used in developing the manual, NSP participants are encouraged to consult with NSP staff to ensure correct interpretation of policies and regulations. ADFA reserves the right to implement additional policies as needed.

Credits

Adopted Aug. 27, 2009.
Current with amendments received through February 15, 2024. Some sections may be more current, see credit for details.
Ark. Admin. Code 109.00.10-I, AR ADC 109.00.10-I
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