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III . NSP STRATEGIES NSP STRATEGY I : HOUSING ACQUISITION/REHABILITATION OF HOMES FOR SALE TO INDIVIDUALS AND FAMILIES WITH INCOMES LESS THAN 120 PERCENT OF AMI Description : The purpose of this NSP strategy is to stabilize neighborhoods of greatest need by providing a means for the acquisition , rehabilitation , renovation , and subsequent provision of homes and other foreclosed or abandoned residential properties to individuals and families whose income does not exceed 120 percent of the area median income . NSP sub - grantees will be required to work with lenders to acquire homes that have been foreclosed within the areas designated as having the greatest need . Indicate which activities you plan to undertake with NSP and/or other funding : _X_24 CFR 570 . 201 ( a) Acquisition _X_24 CFR 570 , 201 ( b) Disposition _X_24 CFT 570201 ( e) Public Services for housing counseling 24 CFR 570 . 201 ( i ) Relocation _X _24 CFR 570 . 201 ( n ) Homeownership Assistance X 24 CER 570 . 202 (a) Rehabilitation Total NSP Budget for NSP Strategy : $. 1 , 520 , ) 00 Other Funds to Be Committed for NSP Strategy : $ 0 NSP Target Area and Justification : Include as much detail as you can about the NSP target area( s ) and provide justification of need (estimated number of foreclosed homes , vacant homes , etc . ) . NSP Target Area (city , neighborhood , etc . ) As shown on the target area map , includingFellsmere , Florida Ridge , Gifford , � Roseland , Sebastian , Vero Beach , Vero Beach South , Wabasso , West Vero Corridor , I and Winter Beach Justification ( estimated In developing the Target Areas for this strategy , the County utilized several sources of number of toreclosures , information , including HUD census tract data reflecting the estimated etc . ) : foreclosure/abandonment risk score in selected activity areas that attained a score of 8 or above . The County also utilized HUD data for HMDA high cost ( sub - prime ) loans and included all census tract areas that were over 17 . 0 % . Additionally , the County utilized information from Realty Trac that identifies areas by zip code that have foreclosure rates greater than the County average of . 26% . There is an abundance of homes available in the identified target areas that can be purchased and will need a moderate amount of rehabilitation prior to resale . I I I —I Potential Nonprofit or For- II profit Su Indian River Habitat for Humanity and others . ( including property management companies) :