80B - NEIGHBORHOOD STABLIZATION PROGRAM

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DRAFT G. NSP INFORMATION BY ACTIVITY (COMPLETE FOR EACH ACTIVITY) (1) Activity Name: Program 5: Acquisition of Foreclosed Properties for Redevelopment (2) Activity Type: (include NSP eligible use &CDBG eligible activity) NSP Eligible Use: Purchase and rehabilitate homes and residential properties that have been abandoned or foreclosed upon in order to redevelop. (HERA, 2301(c)(3)(B). CDGB: 24 CFR 570.201(a) Acquisition, 201 (b) Disposition, 201 (c) Public facilities and improvements, 201 (i) Relocation; 204 Community based development organizations. (3) National Objective: (Must be a national objective benefiting low, moderate and middle income persons, as defined in the NSP Notice-i.e., < 120% of area median income). LMMA: Benefitting all residents of a primarily residential area in which at least 51 percent of the residents have incomes at or below 120 percent of area median; and/or LMMH: Benefitting low, moderate and middle income (0 percent to 120 percent of area median) renters or homebuyers if redeveloped as residential (4) Activity Description: Include a narrative describing the area of greatest need that the activity addresses; the expected benefit to`income-qualified persons; and whether funds used for this activity will be used to meet the low income housing requirement for those below 50% of area median income. The purpose of this program is to acquire properties suitable to be redeveloped as (a) public facilities or (b) new housing construction within the framework of a redevelopment plan. Improvements are likely to be demolished if not suitable for rehabilitation. Properties acquired and redeveloped as parks or open space will be retained by the City and operated by the Department of Parks, Recreation and Community Service. Properties to be redeveloped by the Redevelopment Agency will be disposed of for residential or non-residential use under a land disposition and development agreement. The agreement will restrict the use of the property to meet NSP and CDBG eligible uses and a CDBG national objective. (5) Location Description: (Description may include specific addresses, blocks or neighborhoods to the extent known.) The activity will be carried out in census tracts eligible as LMMA areas for NSP (6) Performance Measures (e.g., units of housing to be acquired, rehabilitated, or demolished for the income levels of households that are 50 percent of area median income and below, 51-80 percent, and 81-120 percent): Number of units expected to be assisted: two properties acquired 24 80B-34