The Riverside County Economic Development Agency (EDA) is inviting applications from various public and private non-profit organizations to acquire and rehabilitate foreclosed, or abandoned (for at least 90 days) vacant single-family homes and rent them to low-, moderate- and middle-income (“LMMI”) households, with preference to Special Needs Households, as defined in the NSP-2 NOFA, in the designated Target Areas in the County. The intended NSP activity under this NOFA is Acquisition, Rehabilitation and Rental of Affordable Units (“NSP-2”). Homes must be vacant for a period of at least ninety (90) days. The minimum discount for all individual NSP acquisitions must be at least fifteen percent (15%) below the current market appraised value as determined within sixty (60) days of the date of the appraisal. The rehabilitated homes for rental will be available to households with an annual income no greater than 120% of the area median income as published by HUD.
NSP-2 Acquisition, Rehabilitation and Rental of Affordable Units