Content Manager

   Minimize

Pilot Foreclosed Property Access and Rehabilitation Program

In June 2009, SHRA began acquiring foreclosed, real estate owned (REO) properties through its partnership with the National Community Stabilization Trust (NCST) , a national nonprofit organization created to connect banks and loan servicers holding foreclosed properties with local government entities and organizations working to stem the decline of communities with high concentrations of vacant and abandoned foreclosed properties. 

NCST administers a “First Look” program, whereby its participating partners are provided access to foreclosed or abandoned properties prior to the properties being listed on the open market, allowing for the targeted and expedited purchase of these properties from various financial institutions working with the organization.  Through the First Look program, SHRA acquired over 40 foreclosed and/or abandoned properties within targeted areas of the City and County of Sacramento from various financial institutions as a component of the SHRA administered Neighborhood Stabilization Program (NSP) .  Properties acquired through NCST under the NSP program are being rehabilitated and sold to income eligible owner occupant homebuyers, or are land banked for future redevelopment purposes.  
 
The proposed Pilot Foreclosed Property Access and Rehabilitation Program (“Foreclosure Access Program”) will expand eligibility for participation in NCST’s First Look program to SHRA approved development partners, including existing NSP development partners, enabling the continuation of stabilization efforts in Sacramento’s most challenged neighborhoods.  The program is complementary to the other programs under NSP including the Vacant Properties Program (VPP) and Property Recycling Program (PRP); two programs focusing on single family rehabilitation and, ultimately, homeownership. 

Much like the VPP and PRP programs, the Foreclosure Access Program will focus on stabilizing neighborhoods through the acquisition and rehabilitation of foreclosed, single-family vacant homes.  Through partnership with NCST, the program will provide access to and allow for streamlined acquisition of foreclosed residential properties by SHRA qualified development partners (Eligible Buyers) for subsequent rehabilitation and sale to owner-occupant homebuyers.  Approved partners will enter into a Master Project Agreement with SHRA outlining the terms and requirements of the program. Proposed rehabilitation costs and scopes of work will be reviewed by SHRA to ensure consistency with construction standards and the work will be monitored throughout the process.  Homebuyers will be approved prior to sale to ensure qualifications are met.  

Interested in becoming an Eligible Buyer?

If you are a builder, experienced in single-family rehabilitation, and interested in participating or finding out more about the program, please scroll down to the “Additional Information” section below for a copy of the Program Guidelines, Eligible Program Areas, Eligible Buyer Handbook, and Eligible Buyer Application. 

Additional Information

Program Guidelines 
Eligible Program Areas
Eligible Buyer Handbook

Eligible Buyer (Developer) Application 
 
Return applications to:
 
Foreclosed Property Access and Rehabilitation Program
Sacramento Housing and Redevelopment Agency
801 12th Street
Sacramento, CA 95814

Foreclosure Access Program Contact Information:

Patrick Hanafee
Redevelopment Planner
Sacramento Housing and Redevelopment Agency
801 12th Street, Sacramento, CA 95814
Tel: 916.449.6233
Fax: 916.447.2261
phanafee@shra.org

Job Opportunities

If you are interested in job opportunities that may be available for projects created by Sacramento's economic recovery fund programs, click on the list below.

Job Opportunities  
SHRA-Assisted Projects

Bidding and Contracting Opportunities

If you are interested in bidding and contracting opportunities that may be available for projects created by Sacramento's economic recovery fund programs, click on the link below.
Bidding and Contracting Opportunities