Three cheers to you for being willing to take on this "steep" challenge. The first order of business is to tame the slope. It is important to erradicate all the weeds before replanting with desirable plants. Take extra time now to avoid cumbersome slope-side weeding down the road. A nonselective herbicide might be your best choice for killing the vegetation.
Low-growing, evergreen shrubs are a good solution to your low. Several varieties of juniper will work nicely. Add color and seasonal interest by planting clumps of ornamental grass. Maidengrass (Miscanthus gracillimus) is a good option.