"We (HUD) awarded $140 million to Chicanos Por La Causa and the NALCAB National Consortium to revitalize neighborhoods in 8 states and the District of Columbia. This award wasn't just a substantial sum of money, it is the single largest federal grant ever given to a Latino network in the history of the federal government," U.S. HUD Secretary Shaun Donovan. From Prepared Remarks of Secretary Shaun Donovan at the National Association for Latino Community Asset Builders National Conference
In 2013, the CPLC/NALCAB Consortium formally concluded its NSP2 Program. The Consortium received a $137 million NSP2 grant from the U.S. Department of Housing and Urban Development to address the impact of the foreclosure crisis on housing markets and neighborhoods, particularly in Latino communities. The end result was the creation of 1,500 housing units, 183 properties secured for future development and 2,300 jobs created or retained.
NALCAB’s latest project--the National Neighborhood Stabilization Initiative--builds on the momentum, knowledge and experience gained during the NSP2 Program. Supported by a $6 million grant from JPMorgan Chase, this five-state pilot project focuses on job creation, affordable housing, and small business lending in predominantly Latino communities. It will also document and analyze the outcomes of the neighborhood stabilization strategies used by members of the Consortium.
Read below to learn more about the work of the CPLC/NALCAB NSP2 Consortium that provided the momentum for the National Neighborhood Stabilization Initiative.
SAN ANTONIO, November 2, 2012 /PRNewswire/ — Chicanos Por La Causa (CPLC) and NALCAB — National Association for Latino Community Asset Builders announced today that they have invested a total of $137 million dollars into predominantly Latino communities that have been hard hit by foreclosures. This effort has successfully restored neighborhoods and stabilized communities in eight states and the District of Columbia.
The initial investment of funds came from a grant from the U.S. Department of Housing and Urban Development and is the largest grant ever targeted by the federal government to predominantly Latino communities. See NSP2 overview infographic.
"Not only have we completed our task ahead of schedule and with the highest level of accountability, our market-based approach is generating revenues that we are reinvesting in these communities that were devastated during the recession," said Edmundo Hidalgo, CEO of CPLC in AZ.
"We are pleased with the NSP2 program results to date, but there is much more work to be done. We are committed to rebuilding our communities and contributing to the resurgence of the American economy," said Noel A. Poyo, Executive Director, NALCAB in TX.
In February 2010, through a highly competitive process, the Obama Administration awarded $137 million under the Neighborhood Stabilization Program (NSP) to CPLC, Inc., acting as the lead applicant for a national consortium of high capacity, nonprofit affordable housing developers, to revitalize neighborhoods that had been negatively impacted by foreclosure and abandoned properties.
The members of this consortium, all members of the NALCAB network, are anchor institutions in their communities and provide bilingual and bicultural services. This award recognized not only the demographic growth of Latinos, but also the extent to which Latinos have been disproportionately affected by the foreclosure crisis.
NSP2 is a program of the U.S. Department of Housing and Urban Administration.
NSP2 objectives are to:
NALCAB was instrumental in creating the consortium by selecting member organizations that are recognized in the community development industry as high capacity affordable housing producers. NALCAB as an NSP2 partner with CPLC is fulfilling its duties by managing the peer support component of the consortium and assisting with the administration, training, and monitoring requirements associated with the grant.
|Chicanos Por La Causa, Inc.||Maricopa County and Santa Cruz, AZ|
|Affordable Homes of South Texas, Inc.||Hidalgo County, McAllen, TX|
|Community Development Corporation of Brownsville||Brownsville, TX|
|El Paso Affordable Housing CUSO||El Paso, TX and Las Cruces, NM|
|Tierra del Sol Housing Development Corporation||El Paso, TX and Las Cruces, NM|
|Yes Housing, Inc.||Albuquerque, NM|
|CHISPA||The cities of Salinas, Gonzales, Soledad, Greenfield, King City, Hollister, CA|
|New Economics for Women||Areas of Los Angeles and San Fernando, CA (San Fernando Valley)|
|Community Resources and Housing Development Corporation||Suburban and rural counties in Colorado|
|Del Norte Neighborhood Development Corporation||Denver, CO|
|NEWSED Community Development Corporation||Denver, CO|
|Northeast Denver Housing Center||Denver, CO|
|Mi Casa, Inc.||Baltimore, MD and Washington, D.C.|
|Norris Square Civic Association||Philadelphia, PA|
|The Resurrection Project||Chicago, IL|
To learn more about the CPLC/NALCAB NSP2 National Consortium, read NSP2 is Working!
Christopher W. Sanchez
National Association for Latino
Community Asset Builders
Phone: (210) 227-1010