Los Banos NSP Down Payment Assistance Program Admin- 1953

To administer and implement the City of Los Banos’ Neighborhood Stabilization Program (NSP) with NSP program income funds. These funds will be used to purchase foreclosed homes, complete repairs as need and sell to qualified program participants. Funds may also be used for down payment assistance and gap financing for the purchase of foreclosed homes.

According to the Federal and State program guidelines, the City may continue the NSP program with the program income received from homebuyers as long as the funds are available or until June 2013.

Previous/ongoing Work:

• Application screening
• Grant awarded July 2009
• Special Conditions Cleared and Authorization to spend activity funds September 2009
• Create required forms
• Setup housing classes required by State for applications
• Process applications for eligibility
• Purchase houses for rehabilitation and resale to applicants
• Prepare loan documents for City loan participants
• Monitor Habitat for Humanities for grant compliance
• Prepare reports to the State and City

Budget and Overall Work Program (OWP)