CA AB2447

Establishes the California Neighborhood Revitalization Partnership Act of 2012 to provide funding for purchase and improvement of foreclosed or abandoned residential properties and downpayment assistance for resale.

Authorizes the Department of Housing and Community Development to expend $25,000,000 from bond moneys in the Self-Help Housing Fund for eligible projects by local public agencies and nonprofit corporations.

Requires awardees to sell improved single-family properties at affordable costs to lower- and moderate-income households subject to equity sharing agreements, and lease properties at affordable rents with affordability covenants of at least 15 years.

Grants bonus points to applicants serving areas with the highest percentage of foreclosed properties and requires applicants to demonstrate they will leverage additional funds.

Directs the Department to coordinate with the State Energy Resources Conservation and Development Commission and Public Utilities Commission to improve energy efficiency and maximize job and apprenticeship opportunities in property rehabilitation.