Since 2009, the City of Framingham has been acquiring, rehabilitating, and selling previously foreclosed housing units as part of its Neighborhood Stabilization Program (NSP). The NSP is a federal housing program designed by the U.S. Department of Housing and Urban Development (HUD). The Framingham Housing Development Corporation II, a non-profit housing development arm of the Framingham Housing Authority (FHA), purchases and renovates the homes.
Renovations
Since the NSP program's inception, the city has renovated and sold 5 single family properties to households earning up to 120% of the area median income (AMI) and has allowed the Framingham Housing Authority to retain 2 properties, containing 4 housing units, for housing their income-eligible tenants.