Buyer Policy
The Stabilization Trust seeks to work with an array of entities undertaking neighborhood stabilization activities in communities across the country. State and local governments, national and community-based non-profit housing organizations, local developers, and other municipal entities are all actively engaged in coordinated local stabilization programs across the nation, and the Stabilization Trust is proud to be a partner in these local efforts.
Who are eligible buyers?
Organizations who seek to work with the Stabilization Trust must meet certain eligibility and capability requirements.
An eligible buyer is an entity representing a coordinated state or local neighborhood stabilization effort that has the authority to make vacant and foreclosed property purchases on behalf of that initiative. The eligible buyer could be a local government, state government, nonprofit or a for-profit entity working on behalf of an established local neighborhood stabilization program. Additional requirements apply.
Buyer Eligibility Requirements (pdf)
What criteria should qualified buyers meet?
The Stabilization Trust wants to ensure the success of organizations participating in its programs and of local efforts to restore neighborhood vitality. In addition to local housing providers meeting buyer eligibility requirements, a coordinated local neighborhood stabilization effort should have demonstrable capability in five different areas:
1. Collaboration. The local community stabilization effort involves an established partnership with government agencies, nonprofit organizations and other local stakeholders that defines the roles and accountability of each participant.
2. Concentration. The local community stabilization effort should focus on one or more defined geographic areas to increase the likelihood that a significant, visible impact can be achieved.
3. Comprehensiveness. Bricks and mortar activities such as the acquisition and rehabilitation of properties purchased through the Stabilization Trust should be complemented by a broader strategy that leverages related social investments and improvements to infrastructure, incorporates a marketing campaign, and otherwise integrates tangible and intangible community efforts.
4. Capacity. The local community stabilization effort should include organizations with the ability to assess, acquire, manage, rehab and convey properties at scale.
5. Capital. The program should have sufficient resources from the HUD NSP funds and other public and private resources to conduct a successful stabilization program.
If you are interested in becoming a participating buyer, please contact us.
