The foundation will be taking applications for low to moderate income individuals and families for house development from 11:30 a.m. until 4:30 p.m. weekdays through Thursday, Feb. 23. Interested families and people should apply as soon as possible.
The local non-profit foundation, which operates under the motto “Unlocking the Doors of Opportunity,” has several goals, including financial literacy training, housing revitalization and community beautification.
But the biggest and most ambitious goal since the organization formed in 2007 has always been to develop new housing, especially for people and families that have never owned a home.
To qualify, applicants must meet the following criteria:
- Have a minimum of three years at their current job or be able to show evidence of job stability.
- Fall within the income range (HUD guidelines) for low-to moderate income housing assistance.
- Establish proof of credit worthiness.
- Agree to comply with deed restrictions related to the care of property and community pride.
- Be prepared to make a minimum down payment of 1.5 percent of construction costs plus a $1,500 minimum closing cost.
- Attend scheduled “Financial Education” classes.
Prior applicants will need to re-apply to update their files. More than 50 applications were completed in 2009 when the housing development program was first introduced. The foundation board members say they regret they were not able to address the needs of those who participated in the 2009 application process. This was principally due to the economic conditions that surfaced that year and the downturn in the housing market.
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