In July 2008 Congress created the Neighborhood Stabilization Program (NSP) that allocated $3.92 billion for the program as part of the Housing and Economic Redevelopment Act of 2008 (HERA). The United States Department of Housing and Urban Development (HUD) further developed the program and was responsible for allocating the funds to each state.

The State of Minnesota received a total of $58 million; $38.8 million was received by the Minnesota Housing Finance Agency (MHFA) to provide targeted emergency assistance to local governments to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment and blight throughout the State. The approximate $20 million remaining was allocated as follows: $5.6 million to the City of Minneapolis, $4.3 million to the City of St. Paul, $3.9 million to Hennepin County, $2.4 million to Anoka County and $2.8 million to Dakota County.

Lakes & Pines is assisting the City of Princeton, one of two NSP grant recipients in the Lakes & Pines service area, with the administration of their program. The City of Isanti also received an award and has contracted with Central MN Housing Partnership for the administration of their program.