A key component of the revitalization effort is the Neighborhood Finance Corporation (NFC). Stockard & Engler proposed the creation of the NFC along with the NRP. NFC was formed on May 4, 1990, as a 501(c)(3) corporation and received its IRS tax-exempt letter on March 9, 1992. The NFC is the central source for the delivery of funds for assistance to both homeowners and developers.

The NRP uses a strategy that calls for neighborhood residents, the City of Des Moines, Polk County, local business leaders, and the NFC to develop a public/private partnership that addresses revitalization issues within the Des Moines area. The NRP gives citizens the opportunity to organize and create neighborhood organizations that can be officially recognized by the City Council and County Supervisors.

Approximately every two years, all recognized neighborhoods are invited to apply for designation status. At that time, the existing designated neighborhoods are evaluated and if they have met their goals, they can be moved to charter status. Recognized neighborhoods that are applying to become designated submit their applications to the Neighborhood Revitalization Board. The NRB is a citizen board appointed by the City Council. Each City Council member appoints three citizens from their ward representing a low income citizen, a neighborhood resident, and a business/nonprofit/educational representative. The NFC has one representative, and the local business leaders' organization has one representative on the NRB.

Once the NRB has designated a neighborhood, the residents, City, County, and NFC work together to develop a neighborhood action plan. The neighborhood planning process relies on active resident groups to identify critical neighborhood issues in their area. The staff of the Neighborhood Development Division provides technical assistance and planning coordination. Neighborhood Planning staff work with the neighborhood group to develop appropriate goals and a feasible action plan. Neighborhood action plans provide a list of activities and identify parties responsible for implementation efforts. Success of the neighborhood action plan depends on a continued coordination of efforts between the neighborhood organization, the City, County, NFC and private organizations.

Since its inception, nineteen neighborhoods have completed the action planning process. Of those nineteen neighborhoods, eleven have successfully completed the process by accomplishing most of the activities in their action plans. They are capable of continuing implementation activities with less support from the City and have graduated to charter status.