From foreclosure, housing opportunity

County Housing & Community Services Director Tom Crawford reported to Historic City News that he hopes for 20-25 housing units to come out of the county’s $2.4 million portion of the federal Neighborhood Stabilization Program that was funded last July.

The funding is determined by the number of foreclosures in a jurisdiction – in our county, 2,345 in 2008.

Crawford, at the monthly meeting of the Emergency Services and Homeless Coalition (ESHC) Thursday, said at least 25% of acquired foreclosure units must go to rentals for very-low income, the balance to first time homebuyers qualified through a formula.

Non-profit agencies will be able to take on the rental units, he said.

This is the first round in what he hopes will be continuing federal support of the Neighborhood Stabilization Program.

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