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NSP STRATEGY 3 : ESTABLISHING LAND BANKS <br /> NSP strategy is to bring abandoned property back into producti <br /> Description : The purpose of thisve use , generating <br /> tax revenue , raising property values and creating community amenities such as affordable housing and green space . <br /> For the purposes of the NSP program , a land bank wilt operate in a specific , defined geographic <br /> area and will <br /> purchase properties that have been abandoned or foreclosed upon and will maintain , assemble , facilitate <br /> dispose of the land- banked properties . Indicate which activities you plan to <br /> redevelopment of, market, and <br /> undertake with NSP and/ or other funding : <br /> 24 CFR 570 . 201 ( a ) Acquisition <br /> 24 CFR 570201 ( b ) Disposition <br /> Total NSP Budget for NSP Strategy : $ 0 . 00 <br /> gy : <br /> Other Funds to Be Committed for NSP Strafe $ The Department will limit the overall <br /> reg <br /> funding (excluded the funds set aside for rental housing for households at or below 50 percent <br /> percentage of re <br /> AMI ) that can be used for land banking to 10 percent . <br /> NSP Target Area and Justification : Include as much detail as you can about the NSP target area( s ) and <br /> provide <br /> justification of need (estimated number of foreclosed homes , vacant homes , etc . ) . <br /> I NSP Target Area (city , <br /> neighborhood , etc . ) <br /> I <br /> I <br /> Justification (estimated <br /> number of foreclosures , <br /> etc . ) . A land bank <br /> disposition plan must be II <br /> provided if you intend to <br /> spend NSP funds on land <br /> �I <br /> banking . I <br /> II j <br /> I <br /> I! I <br /> ' • 1 Non ro <br /> fit <br /> C For- <br /> i. Potentia p I <br /> For- <br /> profit Subrecipients <br /> ( including property <br /> management companies ) : <br /> I <br /> I <br /> � II <br /> i <br />