Contra Costa County
Neighborhood Stabilization Efforts
In 2008, Contra Costa County Department of Conservation and Development received an allocation of approximately $6 million in Neighborhood Stabilization Program 1 (NSP1) funds from the U.S. Department of Housing and Urban Development (HUD) to address the problem of abandoned and foreclosed homes. The County issued a competitive Request for Proposals in the spring of 2009 and selected four developers to acquire, renovate and sell foreclosed or abandoned homes in select areas in Contra Costa County. These developers include Habitat for Humanity East Bay, CHDC, Hearts and Hands of Compassion, and HomeBricks. The County was then awarded approximately $1.15 million in NSP “Roll-Up” funds by the California Department of Housing and Community Development. In late 2010, Contra Costa County received an allocation of approximately $1.9 million of Neighborhood Stabilization Program 3 (NSP3) funds, which are being used to augment their NSP1 activities.
Contra Costa County is dedicating a significant portion of NSP funds to providing down payment and closing cost assistance to qualified low-to-moderate income homebuyers. This program helps homeowners overcome one of the greatest barriers to purchasing a home in the Bay Area: saving a large enough down payment. This program can be used when purchasing a home being offered for sale by one of the County’s selected NSP developers, or when purchasing a home identified by a buyer that is located in a qualified NSP area.
For more information on Contra Costa County’s down payment assistance program, please download a brochure from the link provided.