City of Davis

Parque Santiago

Program Interest Form

Parque Santiago is an opportunity for those income-restricted families to feel the peace of mind that homeownership brings. The program interest form may be the beginning step to owning your own home in Davis at affordable rates.

NeighborWorks Home Ownership Center Sacramento Region (NeighborWorks) is the administrative subcontractor for Parque Santiago and all existing affordable ownership units in Davis. Parque Santiago is an equal opportunity affordable ownership opportunity located just off of Santiago Terrace in South Davis. Parque Santiago is a community for people who own their own business (a City of Davis Business license). There are 5 affordable single family homes which have three-bedrooms and two-bathrooms and an extra room for an office. The units were completed in 2008 and sold to income qualified buyers. NeighborWorks maintains an interest list in order to notify people when an affordable ownership unit is available for sale including the five units at Parque Santiago. To qualify for ownership in Parque Santiago, total household income cannot exceed 120% of the area median income.

To keep the house affordable, the City has attached the following deed restrictions to each property:

• The household must remain the owner occupant of the home at all times and must live in the home a minimum of twenty-four months before selling it;
• The sales price of the property is restricted to a 3.75% appreciation per year, from its original date of sale, and;
• The City has the right of first refusal on all sales. This means that the City has the opportunity to provide income qualified buyers to an owner in the event of a sale. NeighborWorks administers the right of first refusal on behalf of the City.

When a house is available and you have decided to purchase it, you will be required to sign a Disclosure to verify your acknowledgement of the above at the escrow closing.

The process of buying a home is not very easy, but is a worthwhile process. NeighborWorks will be able to assist you or provide you with resource information for any of the programs listed above.

Please contact Emilee Ford at emilee@nwsac.org or (916) 452-5356, Ext. 233, if you would like more information.