Home-Buyer Program to Expand
An additional $100,000 was approved this week to expand the city’s first-time home-buyer program.
Eighteen families received $341,000 in loans this year, all but depleting the $350,000 allocated for fiscal 1997-98.
In response, the Agency for Community Development, made up of City Council members, this week approved the extra funds to keep the program running through the year.
Officials approved the program in March 1997 to promote home ownership in town. Down payments from the applicants are matched by the city, helping those who would not normally qualify for a loan.
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