Neighborhood
Housing Revitalization Program (NHRP)
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Purpose
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The Neighborhood Housing Revitalization Program
(NHRP) provides financial assistance to owners
of one-to-four unit or single family dwellings
that are in need of repair to correct code
violations and to eliminate safety and health
hazards.
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Status
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Taking
applications now.
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Maximum
Amount
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$150,000 per property
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Minimum
Amount
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N/A
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REQUIREMENTS
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| Eligible
Applicants |
Borrowers
must be individuals, not partnerships,
corporations or non-profit organizations. Borrowers
must have title to the property at the time of application.
Borrowers who are licensed contractors must agree to
abide by the City of Oakland Living Wage Ordinance.
Borrowers must demonstrate credit worthiness, financial
capacity, and relevant past experience to undertake
the rehabilitation project. |
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Location
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Property
must be located in one of the seven Community Development
Districts. See district maps in the CDBG section of
this website.
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| Eligible Properties |
Single-family dwelling or one-to-four residential unit
building. Must be vacant, blighted and have one
or more major code violations. |
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Income
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N/A |
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Occupancy
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N/A |
| Eligible Uses |
In
general, loan funds are to be used to cover the
repair costs and related development costs associated
with repairing properties to comply with code.
Eligible development costs include, but are not
limited to, permit fees; architectural and engineering
fees; appraisal fees; and title and escrow fees.
Loan funds must first be used to correct code violations
necessary to receive building services approval.
All work must be under the supervision of a licensed
general contractor in good standing with Contractors
State License Board (CSLB). |
| Other
Requirements |
The
proposed project must meet the Performance Standards
and Specifications for the Housing Rehabilitation
Programs of the City of Oakland and must meet all
applicable building codes, housing and planning
standards. |
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LOAN / GRANT DETAILS
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If sold to a first-time homebuyer with income less
than 120% of area median |
If
sold to any other household or maintained as
rental property |
| Interest Rate: |
0%
interest
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10%
simple interest |
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Payments/ Term
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- No
periodic payments.
- Loan
term is 24 months.
- Payments
are deferred with principal and accrued interest
due and payable on or before expiration of
the loan term.
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- No
periodic payments.
- Loan
term is 24 months.
- Payments
are deferred with principal and accrued interest
due and payable on or before expiration of
the loan term.
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Prepayment Penalty
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None
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None |
Closing
Costs |
$500
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$500 |
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Security
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Deed
of Trust
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Deed
of Trust |
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HOW TO APPLY
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| Status |
Available Now |
| Deadline |
None |
| Process |
Complete
and submit the application.
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| Application |
Call
(510) 238-3909 to request an application |
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MORE INFORMATION
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| Details |
Projects
which best meet the general criteria specified above
will be reviewed further and receive priority consideration
based on the following:
1. Oakland residency;
2. Demonstrated experience in having successfully
completed rehabilitation/construction projects
within recent four (4) years;
3. Properties that have been declared substandard
by the City of Oakland; and
4. Properties that have been vacant for one (1) year
or more. |
| Projects |
N/A
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| Contact |
Residential
Lending and Rehabilitation
City of Oakland
Community and Economic Development Agency
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*Area
Median Income limits are revised annually. Click here for current limits.
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