| |
NSP Status Report: NSP Program Income Exceeds One Billion Dollars
|
|
The following graphs summarize some key facts about the NSP program, as of July 2013. To view a larger version of the charts, click on the charts. Much of NSP funding has already been expended, but new construction and housing rehabilitation are not yet complete. This is because the units are not yet occupied and may also include some under-reporting. There is also a lag between the dates that the grantees report in the Quarterly Progress Report (QPR) and the time that the data are filtered and validated. Thus, the drawdown figures are current as of July 1, whereas the completion data by activity is three months older.
|
July 1, 2013 |
Total Grants |
Total Obligated |
% Obligated |
Total Drawn |
%
Drawn |
|
ALL NSP1 |
$3,900,204,153 |
$4,570,485,078 |
117.2% |
$4,237,807,847 |
108.7% |
|
ALL NSP2 |
$1,930,000,000 |
$2,190,529,493 |
113.5% |
$2,047,501,127 |
106.1% |
|
All NSP3 |
$970,000,000 |
$854,466,395 |
88.1% |
$585,646,396 |
60.4% |
|
OVERALL |
$6,800,204,153 |
$7,615,480,966 |
112.0% |
$6,870,955,370 |
101.0% |
Thus, as of July 1, 2013, NSP grantees in total had drawn 101% of the awarded funds. In March the completed units totaled 60%.
|
|
Projected |
Actual to
3-2013
|
% Complete |
Balance |
|
NSP1 |
60,761 |
48,545 |
79.9% |
12,216 |
|
Clearance and Demolition |
16,961 |
22,520 |
132.8% |
(5,559) |
|
Construction of new housing |
7,106 |
3,726 |
52.4% |
3,380 |
|
Homeownership Assistance to low- and moderate-income
|
12,527 |
8,562 |
68.3% |
3,965 |
|
Rehabilitation/reconstruction of residential structures |
24,167 |
13,737 |
56.8% |
10,430 |
|
|
|
|
|
|
|
NSP2 |
27,646 |
10,561 |
38.2% |
17,085 |
|
Clearance and Demolition |
4,299 |
5,649 |
131.4% |
(1,350) |
|
Construction of new housing |
5,676 |
923 |
16.3% |
4,753 |
|
Homeownership Assistance to low- and moderate-income |
3,220 |
763 |
23.7% |
2,457 |
|
Rehabilitation/reconstruction of residential structures |
14,451 |
3,226 |
22.3% |
11,225 |
|
|
|
|
|
|
|
NSP3 |
13,050 |
1,735 |
13.3% |
11,315 |
|
Clearance and Demolition |
2,731 |
719 |
26.3% |
2,012 |
|
Construction of new housing |
2,720 |
104 |
3.8% |
2,616 |
|
Homeownership Assistance to low- and moderate-income |
1,491 |
279 |
18.7% |
1,212 |
|
Rehabilitation/reconstruction of residential structures |
6,108 |
633 |
10.4% |
5,475 |
|
Grand Total |
101,457 |
60,841 |
60.0% |
40,616 |
|
|
|
|
|
|
|
NSP1/2/3 Combined by Activity Type |
|
|
|
|
|
Clearance and Demolition |
23,991 |
28,888 |
120.4% |
(4,897) |
|
Construction of new housing |
15,502 |
4,753 |
30.7% |
10,749 |
|
Homeownership Assistance to low- and moderate-income |
17,238 |
9,604 |
55.7% |
7,634 |
|
Rehabilitation/reconstruction of residential structures |
44,726 |
17,596 |
39.3% |
27,130 |
|
|
101,457 |
60,841 |
60.0% |
40,616 |
NSP1/2/3 Projections and Completions (through 3-31-13)
NSP Units to be Completed 3-31-13
NSP Projected and Completed by Unit Type:
Multifamily (50.4%) Expected to Exceed Single Family (49.6%)
On July 1, combined program income exceeded $1 billion for the first time. This funding will grow and support additional NSP projects.
Total NSP Program Income
NSP targeting appears to be increasing. The clustering of NSP investments coincides with improved home sale performance.
% NSP Treated Properties in Clusters
NIC Performance as of 12-31-12
The NSP Investment Cluster (NIC) study analyzes how markets treated with a concentration of NSP investment have changed over time compared to similar markets that have only minimally or not been touched by NSP. Each NIC is made up of between one to four block groups and must contain at least two NSP properties in an area with a density of at least six NSP properties located within 1/4 mile. Any multifamily property with at least six properties is automatically designated a NIC. The additional analysis required for the NIC study means that the results tend to be reported two quarters after being recorded by grantees.
|
|
|
|
