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Neighborhood Stabilization Program—Stakeholder Meeting November 3, 2008. California Department of Housing and Community Development Deputy Director Chris Westlake - Division of Financial Assistance. Agenda. Overview of the NSP Determining the State’s Greatest Need
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November 3, 2008
California Department of Housing and Community Development
Deputy Director Chris Westlake - Division of Financial Assistance
Effective state minimum allocation is $19,600,000Information for States
2. Purchase and rehabilitate homes and residential properties that have been abandoned or foreclosed upon, in order to sell, rent, or redevelop such homes and properties
3. Establish land banks for homes that have been foreclosed upon
Clearance, for blighted structures only
4. Demolish blighted structures
5. Redevelop demolished or vacant properties
5. Redevelop demolished or vacant properties (continued)
San Luis Obispo
$2,126,927 to $10,000,000
$10,000,001 to $20,000,000
$20,000,001 to $30,000,000
$30,000,001 to $40,000,000
$40,000,001 to $50,000,000
$50,000,001 to $60,000,000
$60,000,001 to $70,000,000
$70,000,001 to $80,000,000
State administered funds*
HUD’s NSP Allocations by County
*All jurisdictions statewide are eligible to apply for NSP funds with the State
Source: HUD Methodology
Experienced In-House Staff and/or Expertise?
Example: Monterey County
Maintain an Inventory of REOs?
Example: West Sacramento
Realty Track data cross-referenced by Code Enforcement surveying condition of housing, NODs, title companies.
Mechanisms in place?
Habitat for Humanity – Shared Equity depending on length of term
> 45 years, 0%
< 45 years, up to 3%
Acquisition/Rehab Programs in place?
Designed acquisition/rehab program guidelines
for HOME Program
Land Banks?Land Trusts?
LISC –land banking:
Oakland -Urban Strategies –land trust:
Have experience and/or plans to demolish and redevelop?
Working with lenders to identify foreclosed properties?
Established outreach program for potential buyers?
Outreach through local newspapers, water bill, posters and flyers posted in government and public buildings throughout the City
Targeting lower income families for homeownership?
Signed MOU with Habitat for Humanity to provide assistance in targeting lower-income families for homeownership
Note: For NSP, LMMI benefit includes households whose incomes are 120% or less of area median income.
Grantees may incur pre-award costs necessary to develop an application, conduct environmental reviews, and adhere to citizen participation procedures prior to the State’s award.
Note: Reimbursements can only be made after final contract execution.