ANDP - Building, investing in and advocating for mixed income communities.

ANDP Neighborhood Stabilization Program

The Neighborhood Stabilization Program (NSP) was established by the Federal government to stabilize neighborhoods threatened by rampant foreclosures. Georgia, which consistently ranks in the top 10 states with high foreclosure rates, has been awarded $153 million in NSP funding. More than 80% of Georgia's foreclosures happen in the greater metro Atlanta region. Approximately $97 million in NSP funds have been targeted for our region.

In early 2008, ANDP refocused its organizational resources to address the growing foreclosure crisis. Our lending, development and policy programs have been hard at work implementing our Foreclosure Response Plan. As a result, ANDP is now partnering with the City of Atlanta and five metro counties to manage more than $18 million in NSP funds. To learn more about what we're doing in each of these jurisdictions, visit the appropriate link below.

NSP Home | Atlanta | DeKalb | Douglas | Fulton | Henry | Rockdale

Neighborhood Stabilization Program
Homebuyer information sessions scheduled
As a part of its role in Neighborhood Stabilization Programs with the City of Atlanta, Douglas County and Henry County, ANDP will be conducting a Buyer Information Sessions in the coming days and weeks. Attendees will learn how they can purchase homes through the NSP program. Topics will include: the pre-qualification process, down payment assistance, the $8,000 tax credit, homebuyer education and more. Homebuyer information sessions for other counties will be added in the near future.

City of Atlanta
Wednesday, February 17, 2010
6:30 p.m.
Atlanta Fulton Public Library - Adams Park Branch
2231 Campbellton Rd, SW
Atlanta, GA 30311
MORE INFO

Henry County
Monday, February 8, 2010
Monday, March 8, 2010
6pm - 8pm
Henry County Government Annex, Community Room
116 South Zach Hinton Pkwy.
McDonough, GA 30253
MORE INFO

Real estate professionals, lenders and potential buyers may find the following ANDP/NSP documents helpful.

NSP Program Frequently Asked Questions
Potential Buyer Questionnaire
List of Approved Lenders
Mortgage Application Checklist
HUD Approved Housing Counseling Organizations (for required Home Buyer Education)

ANDP tax assessment study
Senate Leader proposes changes in property tax system

Atlanta (February 2, 2010) – Senate Majority Leader Chip Rogers unveiled his property tax plan recently. He called for a process that's easier to understand and based on fair market value of the property. ANDP President & CEO John O'Callaghan comments on proposed legislation to address property tax assessments. VIDEO

Atlanta Journal-Constitution
Special investigation "Property Tax Meltdown"
Read the series on AJC.com

Summary | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | Entire Series & Response

Response to AJC's "Property Tax Meltdown" series

Broken tax system hurts
the poor
GUEST COLUMN
By John O'Callaghan

(December 13, 2009) Georgia’s property tax system is broken and homeowners in our most vulnerable neighborhoods are paying the greatest price. The AJC’s “Property Tax Meltdown” series highlights the need to reform systemic flaws that grossly overtax low-income and high-foreclosure neighborhoods and often undertax more stable affluent neighborhoods and commercial properties.

Fairness and due process form the foundation of a trusting relationship between a government and its people. But metro assessment practices have essentially violated that trust by overbilling low-income residents living in high-foreclosure neighborhoods by up to triple their fair share of property taxes. MORE

Assessment systems overwhelmed
By Dan Immergluck For the AJC

(December 13, 2009) The tax assessment challenges portrayed in the AJC this week are affecting localities across the country. The housing market boom and bust has stressed property tax assessment systems, which were not designed for dealing with such volatility.

While the AJC series focuses on recent declines in market values, most property tax systems also have not dealt well with rapid increases in value. Where values rose rapidly during the boom, tax values were often much lower than current market values. Of course this problem drew little homeowner ire and few headlines. Over time, overvaluations by assessors will, on average, be at least partly offset by undervaluations, but “on average” doesn’t help the homeowner who may not have benefitted on the upside but is paying on the downside. MORE

ANDP selected as national finalist
NHC announces 2009 Pioneer Housing Strategies award

Washington, DC (December 15, 2009) – The National Housing Conference (NHC) announced today that Builders of Hope, Inc. (BOH) was honored with the 2009 NHC "Pioneering Housing Strategies" Award for helping to close an expanding gap between the availability and the need for safe, affordable and environmentally-friendly urban housing solutions in the Raleigh, NC area. MORE

ANDP Lending Arm Gets Boost
CDFI Fund awards CRLIF $1,000,000
ANDP’s foreclosure response program got a critical boost with a recent grant of $1,000,000 from the U.S. Department of Treasury’s CDFI Fund. The funds were awarded to ANDP’s lending arm, the Community Redevelopment Loan and Investment Fund (CRLIF), to increase lending capital to affordable housing developers participating in the Neighborhood Stabilization Program (NSP), other foreclosure redevelopment programs, and multifamily tax credit projects.

CRLIF is committing funds to support the urgent capital needs of NSP recipients. As a result of this commitment, CRLIF is offering a new “NSP Bridge” loan product will assist NSP recipients with start-up capital, bridge needs, financing and leveraged debt. Given that NSP funding is a reimbursement based program, CRLIF’s NSP Bridge will provide quick access to capital to NSP sub-recipients to engage their foreclosure redevelopment programs. MORE

Special Broadcast
Facing The Mortgage Crisis

Georgia Public Broadcasting and PBA Atlanta are reaching out to Georgians with Facing The Mortgage Crisis, a 60-minute live broadcast that aired on both GPBTV and PBA 30 Thursday, July 23 at 8 PM. ANDP President & CEO John O'Callaghan was one of several regional leaders participating in the show. If you missed the show, watch it at GPB.org

During the broadcast, John O'Callaghan and others referenced the Neighborhood Stabilization Program (NSP) and Property Tax Assessments. Here are two links that you may find helpful regarding those two topics.

How can I learn more about NSP projects in my area?

Who do I speak with about property tax assessments in my county?

Resource Spotlight
ADA publishes new assistance guide
Atlanta Development Authority (ADA) has recently published a comprehensive affordable housing brochure that provides detailed information about down payment assistance programs. Programs covered include those offered by ADA, the City of Atlanta Bureau of Housing and the BeltLine. Visit www.atlantada.com for a free copy of the informative publication.

Facebook and Twitter
Stay connected and follow ANDP
Get the latest information about ANDP's foreclosure redevelopment program, our work with county and city Neighborhood Stabilization Program and much more. Follow us on your favorite social networking site, Facebook or Twitter.

CRLIF News
Loan fund one of seven to receive national rating

ANDP loan fund one of seven to receive national rating. ANDP's loan fund, Community Redevelopment Loan & Investment Fund (CRLIF) has been rated by the CDFI Assessment and Ratings Service (CARS™). Investors that subscribe to CARS™ receive detailed analyses that assess the financial strength and performance and impact performance for each CDFI rated, augmenting the underwriting and monitoring of their investment in CRLIF.

Our loan fund is one of seven CDFIs from across the country rated by CARS™ in the first quarter of 2009. According to Opportunity Finance Network (OFN), that is nearly double the number of CDFIs rated compared to the same period last year, and brings the total number rated to 46.

Investors and donors interested in learning more about the CARS™ rating process should contact K.C. George. MORE

The Greening of ANDP

With the assistance of The Home Depot Foundation, ANDP will be applying green/sustainable best practices to all of its program areas.

Lending - Our loan fund, CRLIF, will be offering special lending incentives for developments that are incorporating green standards and practices.

Advocacy - There are many policy initiatives to be undertaken to encourage the adoption of greener building practices. ANDP's advocacy team will be embracing these policy initiatives to rally their passage.

Development - ANDP intends to secure green certifications for all future new developments. More on this topic soon!