NEWS RELEASE 
CONTACT: 
Angela Jones, Public Information Officer 
(916) 440-1355, or (916) 919-3090 
www.shra.org 
SHRA (www.shra.org) is a Joint Powers Agency created by the City and County of Sacramento to represent both 
jurisdictions for affordable housing and community redevelopment needs. The Agency serves as the Housing Authority for 
the City and County of Sacramento and is the leading public developer of affordable housing and oversees residential and 
commercial revitalization activities in 15 redevelopment areas throughout the City and County. SHRA has a FY 2008 budget 
of $276.7 million and approximately 291 employees. The Agency owns and manages 3,144 units of public housing and is 
one of the largest landlords in Sacramento. SHRA also administers approximately 11,000 rental assisted vouchers per 
month. 
“One Community, One Vision” 
630 I Street, Sacramento, California 95814 
(916) 444-9210 phone (916) 441-1197 fax 
FOR IMMEDIATE RELEASE 
October 21, 2008 
SACRAMENTO OFFICIALS APPROVE REDEVELOPMENT AGENCY 
PLAN FOR FUNDS TO ADDRESS FORECLOSURE IMPACT 
SHRA plans to buy bank-owned homes; partner with others to fix up, 
sell or rent foreclosed housing 
Sacramento, Calif. – The Sacramento Board of Supervisors and City Council unanimously 
supported recommendations by the Sacramento Housing and Redevelopment Agency 
(SHRA) to accept a total of $32 million in Community Development Block Grant funds 
(CDBG) to address the impact of foreclosures in Sacramento neighborhoods. 
The award from the U.S. Department of Housing and Urban Development (HUD) allocates 
$18.6 million to unincorporated Sacramento County (which will also be used in Galt), and 
$13.3 million to the City of Sacramento under the Neighborhood Stabilization Program 
(NSP) as part of the Housing and Economic Recovery Act of 2008 (HERA) which Congress 
passed in July. The State of California and jurisdictions with the state were awarded $530 
million or 16 percent of the federal grant. Unincorporated Sacramento received the third 
largest allocation for a county after Riverside and San Bernardino counties. The City of 
Sacramento was awarded the second largest amount for a city in the state behind the city 
of Los Angeles. 
NSP funds are specifically focused on recovery and redevelopment of vacant, abandoned 
foreclosed homes for the purpose of stabilizing neighborhoods impacted by foreclosure, 
removing significant blight from neighborhoods, and providing housing for low- to 
moderate-income households. State and local governments may use the funds to 
purchase abandoned and foreclosed homes and residential properties to stabilize 
neighborhoods hardest hit by the foreclosure crisis. The funds were awarded based on 
state and local need measured by such factors as the number and proportion of homes in 
foreclosure, subprime loans, and homes in default or delinquency. 
Sacramento’s will apply the funds to programs that strive to achieve three goals: 
1. Return vacant foreclosed or abandoned residential properties to occupancy as 
quickly as possible;

Foreclosure Neighborhood Stabilization Program 

2. 
Revitalize neighborhoods through strategic redevelopment, rehabilitation and reuse 
of vacant properties; and 
3. 
Provide affordable homeownership and improved affordable rental opportunities to 
Sacramento families. 
SHRA’s strategy will apply geographical targeting in neighborhoods that are most 
impacted by foreclosures. The strategy aims to assist recovery in weaker housing 
markets and target funds for a more visible impact. 

SHRA will apply funds to three programs to address the impact of foreclosure. The Vacant 
Properties Program is designed to return vacant and blighted homes and properties to 
owner occupancy. The program will operate in partnership with local contractors and 
developers and will provide a developer an incentive fee to be paid after homes are 
rehabilitated or constructed and sold to owner occupants. 

Under the Block Acquisition/Rehabilitation Program, SHRA will seek partnerships with 
private developers willing to acquire, rehabilitate, demolish or rebuild and maintain units 
in designated areas as common rental property. 

The Property Recycling Entity (PRE) Program envisions a government, affiliate or private 
entity that can quickly acquire foreclosed properties and adjacent parcels, perform 
necessary rehab or demolish, rent or sell and engage in redevelopment. 

SHRA must submit its application to HUD by December 1. NSP funds must be committed 
to projects for specific properties within 18 months. A line of credit for NSP projects will be 
available January 2, 2009. 

For more information, contact Angela Jones, Public Information Officer, at (916) 440-1355 
or ajones@shra.org. 

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