Federal leftover allows for housing
Thu, 19 Sep 2013 02:09:07 GMT —
A federal program is offering low income families a chance at homeownership.
Albany city commissioners voted to release $89,000 to a developer for that purpose.
The money will be used to purchase two homes and make them affordable for first time homebuyers, with the funds coming from leftover federal dollars.
The program aims to increase homeownership inside the city.
"We actually were able to find a home that's located in northwest Albany as well as one in central Albany. So because of that we're able to move families into progressive neighborhoods instead of just low to moderate income neighborhoods," said Orlando Rambo, Albany Developer.
The money will be used to purchase and renovate the homes, and the remaining funds will go towards closing costs and a down payment for the homeowner.