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Description
San Bruno City Council Meeting 07-28-09 10e. Neighborhood Stabilization Program
A
I
to
me
adopt
a
resolution
approving
participation
in
a
countywide
Neighborhood
Stabilization
program
to
acquire
and
rehabilitate
vacant
foreclosed
properties
for
resale
to
qualified
homebuyers
and
allocating
280
thousand
dollars
in
matching
funds
from
the
below
market
rate
in
lieu
fee
fund.
Mr.
Sullivan
good.
B
Evening,
honorable
vice
mayor,
City,
Council
members,
the
federal
government
established
the
Neighborhood
Stabilization
program,
which
is
called
n
sp2
in
response
to
the
national
foreclosure
crisis
and
as
part
of
the
American
Recovery
and
Reinvestment
Act.
The
san
mateo
county
department
of
housing
has
submitted
an
application
to
HUD
for
8.9
million
dollars
in
n
sp2
funds
on
behalf
of
local
cities
and
nonprofit
agencies.
If
the
application
is
successful,
nsp
to
funds
would
be
used
for
the
rehabilitation
for
the
acquisition,
rehabilitation
and
resale
of
108
foreclosed
homes
in
the
county
over
a
three-year
period.
B
B
San
bruno
was
not
invite
was
invited
to
participate
at
a
late
stage
in
the
in
the
application
process
and
staff
first
attended.
A
meeting
related
to
n
sp2
in
early
july
HUD
has
identified
11
census,
tracts
in
San
Mateo
County,
with
relatively
high
foreclosure
rates
that
would
qualify
to
receive
nsp
to
funds.
One
of
those
census
tracts
is
located
in
san
bruno.
B
It
is
also
the
location
of
the
shelter
creek
condominium
complex,
which
includes
over
1,200
condominium
units
and
staff
has
determined
that
the
great
majority
foreclosures
within
the
census
tract
are
in
the
shelter
creek
complex.
If
the
application
is
successful,
the
County
Department
of
Housing
proposes
to
form
a
collaborative
of
cities
and
nonprofits
to
carry
out
the
program
with
the
county
as
the
lead
agency.
Currently,
the
collaborative
partners
include
the
County
Habitat
for
Humanity,
the
cities
of
daly
city,
east
palo,
alto,
south
san
francisco
and
menlo
park,
and
the
nonprofit's
heart
and
rebuilding
together.
B
If
san
bruno
chooses
to
participate
in
the
county
wide
effort,
nsp
two
funds
would
be
used
to
provide
down
payment,
assistance
and
rehabilitation,
assistance
to
qualified
home
buyers
for
foreclosed
condominiums
at
shelter.
Creek.
The
county
department
of
housing
has
expressed
an
interest
in
administering
the
nsp
to
program
in
san
bruno,
based
on
their
experience
with
the
county's
first
time
homebuyer
program
and
the
county's
rehabilitation
program.
B
These
specific
terms
and
guidelines
for
the
program
will
be
worked
out
when
and
if
the
county's
application
is
successful.
The
various
members
of
the
collaborative
will
need
to
develop
and
agreed
to
program
guidelines,
including
how
funds
will
be
spent
loan
and
grant
amounts
in
terms
and
repayment
arrangements.
These
guidelines
would
be
specific
to
each
participating
jurisdiction.
B
The
guidelines
and
specific
rules
for
use
of
funds
will
be
presented
to
the
City
Council
for
consideration
prior
to
any
expenditure
of
n
SP,
2
or
city
funds
in
San,
Bruno
San
Bruno
would
benefit
from
participation
in
the
program
by
gaining
access
to
experience
and
resources
that
aren't
available
locally.
The
program
represents
an
opportunity
to
create
permanent,
affordable
housing
in
san
bruno
and
would
help
the
city
in
meeting
its
affordable
housing
goals.
The
nsp
to
program
requires
a
commitment
of
local
matching
funds.
B
Staff
recommends
that
the
city
commit
two
hundred
and
eighty
thousand
dollars
to
the
program
at
San
Bruno's
match
which
will
leverage
about
an
equal
amount
of
nsp
to
funds.
The
county
estimates
that
the
average
cost
per
property
for
rehabilitation
and
acquisition
and
resale
to
be
about
a
hundred
thousand
dollars,
potentially
creating
about
five
new,
affordable
housing
units
in
Sam
in
san
bruno
with
long-term
deed
restrictions.