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City details homeownership programs, infill lots and resale limits on NSP properties
Summary
Staff summarized purchase assistance, infill housing, deed restrictions on NSP rentals and the city’s strategy to move properties back to private ownership when affordability periods end.
Sheila Ware, Housing and Community Services, described the department’s homeownership strategies and why some approaches were scaled back in the current LHAP.
Ware said the city’s purchase‑assistance program is aimed at first‑time buyers and includes counseling, a HUD‑certified homebuyer class and a 15‑year second mortgage at 0% interest that is forgiven if the buyer remains in the home the full period. The program includes up to $50,000 in down‑payment assistance and up to $10,000 for eligible closing costs; Ware said the purchase‑price cap is $300,000. She said every purchase‑assistance applicant receives a one‑on‑one budget counseling appointment and a walkthrough before…
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