Property Recycling Program
The Property Recycling Program (PRP) focuses on stabilizing neighborhoods through strategic investments and partnerships. Working with governmental, non-profit and for-profit partners, SHRA provides the inventory of properties and funding to remove the blight associated with foreclosed and/or vacant properties through three specific activities including:
- Rehabilitation of single family homes, which are subsequently sold to qualified low- and moderate-income households;
- Rehabilitation of multi-family rental properties; and
- Demolition and land banking (i.e. temporary holding) of properties that are severely dilapidated or that support a larger site assembly effort of the City or County Redevelopment Agency or Housing Authority.
Under the PRP, SHRA can acquire residential and/or vacant properties that are located within an approved NSP target area. In addition to purchases through local brokers, realtors and other publicly accessible routes, SHRA has established a relationship with the National Community Stabilization Trust (NCST ), which allows partner governmental entities to view and acquire foreclosed properties within the NSP target areas, prior to the properties being actively listed.
PRP Properties Acquired (pdf )
The PRP aims to transform the most impacted neighborhoods, streets and properties; those areas where the market alone cannot ensure change. The PRP is complimentary to the other programs funded under the Neighborhood Stabilization Program (NSP), all of which seek to reduce the impacts of foreclosures on neighborhoods.
Program Guidelines (pdf )
Single Family Homeownership
The primary objective of the PRP includes acquisition and rehabilitation of foreclosed and/or vacant single family homes for sale to qualified low- and moderate-income families. Through an extensive and competitive Request for Qualifications (RFQ) process, SHRA formalized development partnerships for the rehabilitation and sale of homes with both traditional “volume builders” as well as community based non-profit organizations, including:
• NeighborWorks HomeOwnership Center, Sacramento Region & GALA Construction, LLC (NGVB)
• Homes by Towne
• Habitat For Humanity
SHRA disposes of properties to its development partners for rehabilitated based on SHRA’s construction standards which have significant green building components. The volume builders provide the financing for rehabilitation and SHRA provides a developer fee incentive upon completion of the sale of the property to an eligible household.
As of January 2011, SHRA has acquired 42 properties for rehabilitation and sale under the PRP.
Single Family Rehabilitation “Before and After”
Rehabilitation Completed by NGVB, LLC
Interested in Purchasing a Home?
All residential units resulting from the acquisition, rehabilitation or construction through the Property Recycling Program must house families at or below 120% of area median income (AMI). Affordability definitions are based on the area median income (AMI) for the Sacramento Metropolitan Statistical Area (MSA) as established by the US Department of Housing and Urban Development (HUD).
PRP Income Limits (pdf )
If you are interested in purchasing a home rehabilitated under the Property Recycling Program, please click-on the following attachment for a list of available properties and contact information:
PRP Homes for Sale (pdf )
Homebuyer Assistance (pdf )
Multi-Family Rental Rehabilitation
In addition to its focus on homeownership opportunities, the Property Recycling Program makes strategic investments in the rehabilitation of long term affordable rental housing. SHRA has acquired two multi-family properties under the PRP including a 17-unit property located at 3535 Del Paso Boulevard and a four-unit building located at 23 Coral Gables Court. Both properties will be rehabilitated and made available to qualified very low-income households. Upon completion of the rehabilitation, the properties will be owned and managed by the Housing Authority.
Land Bank – Redevelopment
Properties that support a larger site assemblage effort of the City or County Redevelopment Agency or Housing Authority or that are severely dilapidated to the point necessitating demolition, may be acquired through the PRP. Properties under this activity may require an intermediate hold strategy in accordance with a long-term plan that can be fully implemented once the market can support the additional investment. As such, demolition and land banking activities are viable intermediate actions that can bring an immediate impact with the potential for an even larger benefit in the future.
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.
Employment with SHRA
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
Property Recycling Program Contact Information:
Senior Redevelopment Planner
Sacramento Housing and Redevelopment Agency
801 12th Street, Sacramento, CA 95814