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We completed a review of Clark County’s (grantee) Neighborhood Stabilization Program (Program). The grantee includes Clark County and the City of North Las Vegas. We performed the review because Housing and Economic Recovery Act of 2008 (Act) reviews are part of the OIG’s audit plan, and the Program was identified as high risk. In addition, the grantee was awarded more than $29.6 million in Program funding. Our objectives were to determine whether the grantee (1) had sufficient capacity and controls to administer and manage Program funds and (2) had been administering its Program in accordance with regulations. We found that the grantee generally had sufficient capacity and had been administering its Program in accordance with HUD requirements. However, Clark County needs to revise its written procedures and developer agreements to ensure that properties to be sold to eligible home buyers will be sold at a price permitted by Program requirements. We recommend that HUD require Clark County to revise its written procedures and developer agreements to ensure that rehabilitated properties will be sold at no more than the cost of acquisition and rehabilitation.