Neighborhood Revitalization Program
The Neighborhood Revitalization Program (NRP) is Habitat for Humanity Greater San Francisco's foreclosure recovery effort. So far, more than $3 million has been committed to the program through strong community support, with 18 NRP homes completed, under renovation, or planned thus far.
Over the past two years, foreclosure signs have become an all too common sight in the Bay Area and around the country. Communities, through no fault of their own, are hard-pressed to deal with the growing glut of homes that are standing vacant, in many cases blighted, and having a devastating effect on their local neighborhoods.
Habitat Greater San Francisco introduced the NRP at the height of the housing meltdown in early 2009 with an initial investment of $500,000 and matching grant from the city of Menlo Park to acquire and rehabilitate five bank-owned homes in Belle Haven, enabling new affordable homeownership opportunities for local working families. Since then, the program has grown significantly with the increase in financial support from local banks, businesses, cities, churches, foundations and hundreds of individuals, making it possible for Habitat to acquire more properties and assist more hard-hit neighborhoods. These community supporters include: Bank of America Charitable Foundation, Cargill, Coldwell Banker, Federal Home Loan Bank, Marin Community Foundation, Menlo Park Presbyterian Church, Wells Fargo, San Mateo County, and the cities of East Palo Alto, Novato and San Rafael. Highlights of the community support include:
- More than $1.5 million in funding approved by the cities of East Palo Alto, Menlo Park, Novato, and San Rafael;
- $200,000 in additional funding committed by the Marin Community Foundation for a total of $450,000;
- More than $250,000 in support from local banks;
- $150,000 from Menlo Park Presbyterian Church;
- $120,000 from San Mateo County ($24,000/home for five homes)
Families selected for the NRP help with the reconstruction and refurbishment of the homes as part of the standard sweat equity requirement of the Habitat program. They also have access to the same terms of Habitat's homeownership program, including no down payment and a zero-interest mortgage, to purchase their homes. They undergo significant homeownership education and training, just as all Habitat families do, helping to keep Habitat's foreclosure rate at less than one percent locally and around the country.