Indianapolis Neighborhood Housing Partnership

INHP/NCST Property Acquisition Program

The Indianapolis Neighborhood Housing Partnership (INHP) is accepting applications for admission to the INHP Property Acquisition Program in conjunction with National Community Stabilization Trust First Look Program (NCST). Developers with a strong track record of
success in renovating high-quality, energy-efficient, and healthy homes in a socially responsible manner are invited to apply. Deadline for submission of RDQ is Friday, October 8, 2010 at 5 p.m.

INHP/NCST Property Acquisition Program Description

Indianapolis Neighborhood Housing Partnership (INHP) has partnered with the National Community Stabilization Trust (NCST) in a national initiative designed to facilitate the transfer of foreclosed properties from financial institutions to local nonprofits and private partners. The purpose of the program is to achieve sustainable rehabilitation and resale of foreclosed properties and to encourage housing market activity and neighborhood stability. The program provides an opportunity for approved developer partners to purchase foreclosed and vacant properties at a discount in order to facilitate acquisition and rehabilitation of such properties.

First Look Program

The First Look program allows the purchase of foreclosed homes before they are publicly listed through traditional REO procedures. Prices are calculated on a discount formula based on cost savings experienced by the lender avoiding certain holding and transaction costs. The pricing also takes into consideration the need for below market pricing to enable purchasers to renovate the homes.

Click links below to download program overview and application.

INHP/NCST Property Acquisition Program Overview & Guidelines

Application

Deadline for submission of RDQ is Friday, October 8, 2010 at 5 p.m.
Mail or deliver your complete application packet to:

Rob Evans, Program Administrator
INHP
3550 N. Washington Blvd.
Indianapolis, IN 46205

Please direct all inquiries and questions to Rob Evans,
Program Adminstrator, at 317-610-4650 or revans@inhp.org.