Month: July 2011

Baltimore – Community Development Block Grant Program’s First Time Homebuyer Program

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Baltimore’s Office of Homeownership established the First Time Homebuyer Program.  The program aims to aid first time homeowners by providing qualified individuals with $5,000 toward down payment and settlement expenses structured as a 5-year loan forgivable 20 percent per year.  Those who are eligible are identified as “first-time homebuyers with a counseling certificate from a
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Baltimore Housing Program Offers Incentive to Buyers of Vacant Properties

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Announced on June 30, 2011, Baltimore’s housing department will offer $10,000 to each of the first 50 buyers of vacant, rehabilitated homes.  Homeowners qualify by purchasing a vacant home with a rehab loan such as a 203(k) or by finding a recently rehabbed home that the city considers a Vacants to Value property.  The incentive money
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Affordable Housing Program Grant Awarded to Residential Rehabilitation Efforts

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In Jackson, Mississippi, BancorpSouth and the Federal Home Loan Bank of Dallas (FHLB Dallas) awarded the Voice of Calvary Ministries, Inc. (VOCM) with a $280,000 grant to further empower the VOCM’s Dream Builders Program.  The grant will help the Dream Builders Program rehabilitate 28 foreclosed or vacant homes and resell them to income-qualified homebuyers.  Low-
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Detroit Light-Rail Project Progresses

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Convenient, sustainable transportation is vital for city revitalization and regeneration.  When residents have better transportation, they can more easily access employment opportunities and support local businesses and local economies.  Transportation not only reinvigorates local economies, but also strengthens community and social connections.  One option for sustainable and convenient transportation is a light-rail system. Detroit has
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