Neighborhood Stabilization Program (NSP2)

 

With the abundance of foreclosed homes on the market, many neighborhoods become an eyesore with abandoned homes attracting undesirable activities such as graffiti, drug activity and crime.

 

CHISPA is using federal stimulus funding under the NSP2 Program to purchase and renovate foreclosed single-family homes in the cities of Gonzales, Greenfield, Hollister, King City, Salinas and Soledad.

 

Through the NSP2 Program, CHISPA is able to provide the opportunity for qualified low and moderate-income families to purchase an affordable home.

 

Before purchasing foreclosed homes, CHISPA carefully inspects the homes to determine the viability and cost of renovation. Sometimes the cost of renovation is cost-prohibitive because of mold, mildew, termite infestation or other costly repairs. Unlike some outside investors interested in a quick profit, CHISPA ensures that homes are properly renovated and that defects are remediated, not just covered up with paint and passed on to the homebuyer.

 

CHISPA expects to begin purchasing and renovating foreclosed homes in late 2010. The sales of the renovated homes will begin in 2011.

 

For more information, or to inquire about specific homes, contact CHISPA's Housing Program Manager at (831) 757-6251, ext. 122.

 

Interest list is now open.