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Affordable Housing

Rhonda Haynes
Housing Specialist
Affordable Housing Division 
315 E Acequia Ave, Visalia, CA 93291
Phone:  559 713-4460
E-Mail:  rhaynes@ci.visalia.ca.us


Keep Your Home California

First Time Homebuyer –HOME Funded Program

The City of Visalia Home funded, First Time Homebuyer Program has returned!!!  The City receives HOME funds through the U.S. Department of Housing and Urban Development (HUD).  On April 15, 2013, City Council approved the return of the “First Time Homebuyer Program”, which provides income qualified households (at or below 80% of the area median income), with gap financing toward the purchase of a home within city limits.  The borrower is required to provide down payment funds in the amount equal to a minimum of 3 ½ % of the purchase price, and closing costs not covered by the principal or program loan.  The City is working with Community Service Employment Training, Inc. (CSET) who is administering the program.  See our “FTHB 2014 Fact Sheet” for more information about this program.  See our FTHB 2014 policies herein for detailed requirements. 

Please note that in order to qualify for assistance, applicants must attend eight (8) hours of home counseling (free to applicant) through Community Service Employment Training, Inc. (CSET); provide proof of income to meet HUD HOME requirements; complete a City of Visalia FTHB Application, meet loan underwriting requirements and accept a 10-year Affordability Covenant (owner occupancy) which is placed upon the property with a recorded Owners Participation Agreement.  The loan amount reflected represents the maximum.

The gap financing is provided as a second mortgage loan, at an interest rate of 2% simple interest, for a 30 year term.  Repayment terms are 10 years deferred, with repayment for 20 years.  The maximum purchase price of the home may not exceed $171,000 (as of February 1, 2014).  The maximum purchase price allowed is determined on a semi-annual basis and determined by the City’s analysis conducted of homes sold over a period of time, and follows the HUD’s HOME Rule 24 CFR 92.254.

The actual amount of assistance will be determined based upon the first mortgage loan, borrower down payment, income, debt ratios and other underwriting criteria.  The loan and covenant terms are as follows:

    - $15,000 maximum for borrowers with income between 61% up to 80% AMI:
    - $25,000 maximum for borrowers under 50% and up to 60% AMI:


Foreclosure Acquisition Program II- (FAPII) HOME Funded
The City of Visalia is proud to share with you an opportunity to purchase a refurbished home through the U.S. Department of Housing and Urban Development (HUD) "Foreclosure Acquisition Program -II".  On April 18, 2011, City Council approved a second program which authorized the City to acquire foreclosed homes within city limits, rehabilitate and resell the home to income qualifying households (at or below 80% of the area median income). 

Please note that in order to qualify to purchase one of the City’s homes, applicants must attend eight (8) hours of home counseling (free to applicant) through Community Service Employment Training, Inc. (CSET); provide proof of income to meet requirements; complete a City of Visalia FAP-II Home Purchase Agreement and Application, and accept a 15-year Affordability Covenant on the home purchased.  The City is currently acquiring homes, please check back for further updates regarding available homes.  See our “FAP-II Fact Sheet” for more information about this program.   See our FAP-II Policies herein without attachments.

Neighborhood Stabilization Program (NSP)
The City of Visalia is proud to share with you an opportunity to purchase a refurbished home through the U.S. Department of Housing and Urban Development (HUD) Neighborhood Stabilization Program- (NSP) Foreclosure Acquisition Program".  In September 2008, the City of Visalia was awarded a $2.3 million Community Development Block Grant (CDBG) to acquire, rehabilitate and resell foreclosed homes. 

The homes have been purchased in 
Targeted Neighborhoods through local realtor representatives.  Most recently, the Targeted Neighborhood boundaries were expanded as reflected in the attached map.  The City is currently purchasing and rehabilitating homes. Please continue to check our website for up to date information regarding our homes.  See our “NSP Fact Sheet” and "NSP policies" for more information about this program.

Please note that in order to qualify to purchase one of the City’s homes, applicants must attend eight (8) hours of home counseling (free to applicant) through Self Help Enterprises; provide proof of income to meet requirements; complete a City of Visalia NSP Home Purchase Agreement and Application, and accept a 15-year Affordability Covenant on the home purchased and household income shall not exceed 50% of the area median income. 

We welcome your questions on this program so please call Rhonda Haynes, Housing Specialist, at 713-4460 or email at
rhaynes@ci.visalia.ca.us with any questions. We look forward to assisting you in the purchase of one of our homes.


Habitat for Humanity Neighborhood Stabilization Program (NSP)
The City of Visalia is also working with Habitat for Humanity of Tulare County with NSP funding. Habitat for Humanity of Tulare County is acquiring foreclosed homes within Visalia’s NSP Target Area, rehabilitating and reselling to income qualifying households (at or below 50% of the area median income). You may contact Habitat for Humanity of Tulare County for more information about their homes:

Habitat for Humanity of Tulare County (559) 734-4040

These programs enables the City to revitalize neighborhoods, rehabilitate foreclosed homes, employ local contractors, and resell homes to pre-qualified buyers with fixed rate mortgages.  

We welcome your questions on these programs so please contact Rhonda Haynes, Housing Specialist, at (559) 713-4460 or email at rhaynes@ci.visalia.ca.us. We look forward to assisting you in the purchase of one of our homes.

City of Visalia Charter


ATTENTION CONTRACTORS!
Currently, the City of Visalia is soliciting Contractors who meet Section 3 requirements to assist with the rehabilitation of foreclosed properties through the Neighborhood Stabilization Program (NSP).  If you are a Contractor and are interested in becoming certified, please complete and return the 
Section 3 Application to Rhonda Haynes, Housing Specialist at fax 559-713-4814.  
 
Additionally, the following affordable activities/projects throughout targeted neighborhoods within the City of Visalia are also available.  These projects/activities are funded through federal grants received from the U.S. Department of Housing and Urban Development (HUD): HOME and CDBG.  The Community Development Department invites all interested licensed contractors to submit their firm for inclusion on the list of
qualified bidders (quotes) to participate in the rehabilitation of acquired single family residences. Please complete and submit the attached application to the following:


Recent and New Developments: 
Infill Single Family Homes: Habitat for Humanity is purchasing foreclosed homes and rehabilitating and reselling to homebuyers. For more information please contact Betsy Murphy, Executive Director hfhtc@sbcglobal.net 
                           
Mill Creek Parkway Apartments: multi-family affordable housing development, 73 units with conference center, swimming pool and full size basketball court, contact Tulare County Housing Authority (http://www.hatc.net/).

Paradise and Court: The City of Visalia provided HOME-CHDO and Redevelopment Low/Mod funds to Visalia Interested In Affordable Housing (VIAH) and Kaweah Management Company to acquire, renovate and develop 20 units. Eleven units have been rehabilitated and nine new units have been constructed. For rental information, contact Tulare County Housing Authority (http://www.hatc.net/).

Kaweah Avenue Multi-Family REO Rehabilitation Project:  Kaweah Management Company has purchased 2 dliapidated triplexes which were in foreclosure. The RDA provided a $480,000 loan toward the acquisition and new construction.  8 new units were constructed in 2012, for rental information, contact Tulare County Housing Authority (http://www.hatc.net/).

Kaweah Triplex for Mentally Challenged Adults:  Kaweah Management Company secured a $340,000 redevelopment loan and has rehabilitated a triplex across from the Tulare county Library on Encina.  The Development provides housing for severely mentally challenged adults, for rental information, contact Tulare County Housing Authority (http://www.hatc.net/).

Sierra Meadows - A housing facility for low income seniors who can maintain independent living status (with or without assistance).  The 42 unit development opened for occupancy in May 2011.  For additional information call Visalia Senior Housing at (559)623-9212 (http://visaliaseniorhousing.org/).

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