California Neighborhood Revitalization Partnership Act of 2012.

The Housing and Emergency Shelter Trust Fund Act of 2006 authorizes the issuance of bonds to finance various housing programs, capital outlay related to infill development, brownfield cleanup that promotes infill development, housing-related parks, and transit-oriented development programs. Existing law transfers bond moneys to the Self-Help Housing Fund to be expended for purposes of the California Homebuyer's Downpayment Assistance Program, as specified. Existing law, the CalHome Program, authorizes funds appropriated for purposes of the program to be used to enable low- and very low income households to become or remain homeowners. This bill would establish the California Neighborhood Revitalization Partnership Act of 2012, to be administered by the Department of Housing and Community Development, to provide funding to local public agencies or nonprofit corporations for the purchase and improvement of foreclosed or abandoned single-family or multifamily residential properties and for downpayment assistance associated with the resale of an improved property, subject to specified requirements. The bill would authorize the Department of Housing and Community Development to expend $25,000,000 of the bond moneys available in the Self-Help Housing Fund for the purpose above.