Housing Assistance Funds to Be Doubled
The city is expected today to double the financial assistance it offers low-income families to buy a house or fix up their existing one, city officials said.
The City Council is set to approve new home-buyer and rehabilitation assistance guidelines that increase the amount of matching funds each family could receive from $5,000 to $10,000, said Ernie Whitaker, Oxnard’s housing rehabilitation manager.
“We’re working with 7-year-old policies, and housing prices have gone up considerably since then,” Whitaker said. The average home prices are $192,500 in south Oxnard, $265,000 in north Oxnard and $345,000 in Oxnard’s beach area, he said.
The increase would be available to qualifying families improving their home exteriors and interiors, as well as to help with closing costs or down payments for buyers.
Families must be Oxnard residents and be low-income, Whitaker said. The new guidelines would go into effect Aug. 1, he said.
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