Sponsor
Alderman Friedel
Title
HOMEOWNER DOWN PAYMENT PROGRAM
Body
RESOLVED, that the target area for the Homebuyer Down Payment Assistance Program be expanded to include: Census Tract 8, Block Group 1; Census Tract 12.02, Block Groups 3 and 5; and Census Tract 13.02, Block Groups 2, 3, 4 and 5.
FURTHER RESOLVED, that the maximum loan amount be capped at $5,000 or 71/2 percent of purchase price, whichever is less.
Fiscal Note
Fiscal Note: This program is funded by an allocation of federal HOME Housing Investment Partnership grant funds.