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INHS asks IURA to modify first-time buyer definition and extends Sears Street and Cleveland Avenue project deadlines
Summary
The IURA approved a contract modification to align a first-time homebuyer definition with New York State funding rules and granted INHS extensions for the Sears Street and Cleveland Avenue homeownership projects.
The Ithaca Urban Renewal Agency approved three related INHS requests: a contract modification to align the local "first-time homebuyer" definition with New York State funding rules, and two contract extension requests for the Sears Street and Cleveland Avenue homeownership projects.
Delia Yarg, identifying herself as an INHS representative, said New York State funding allows applicants who previously owned a home but have since sold it to qualify for this program — subject to the program’s income and asset caps and specific exemptions. She explained one common exemption is for single parents with more than 50% custody of a child; "in…
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