The NSP Team at HUD Headquarters and across the country salutes the accomplishments of NSP2 grantees! Of $1,930,000,000 in grants awarded, 56 NSP2 grantees expended $1,968,152,583, or 102% of the total, with program income accounting for the additional spending. We recognize that NSP placed rigorous expenditure timeframes on local and state governments, many experiencing layoffs and furloughs; we deeply appreciate how hard everyone worked to make the program successful.
Six grantees technically did not show 100% expenditures, but two of these had draws exceeding 100%. We believe that these are accounting errors that will be corrected quickly. The four grantees who fell below 100% did so by a total of $11,092,986, or 0.6% of the total grants awarded. Three of those four missed by less than 7% of their grant amount and the fourth has recently contended with a natural disaster. Therefore, while we are somewhat disappointed that all grantees did not hit the mark, collectively it was a 99.4% achievement, one that helped to improve hundreds of neighborhoods.
NSP2 will continue to require our support as projects move to completion and occupancy. NSP2 grantees have already earned more than $202 million in program income and we expect this figure to increase. NSP1 has earned over $651 million in program income, some of which is available in the same communities as NSP2. As closeout procedures are made final, NSP grantees who generate program income will be able to continue using it for the same eligible uses and activities.
Once again, we send our sincere congratulations to all the people who made NSP2 work so well! HUD stands ready to support you as you complete your programs and move toward closeout.
You can view more NSP2 project photos on Flickr or in the NSP Flickr Photostream. To submit photos, email us.