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Council approves sale of 8 Ringgold Street to North End Housing Initiative for affordable homeownership
Summary
The council approved conveyance of property at 8 Ringgold Street to North End Housing Initiative for $7,500; the project will use HOME funds to subsidize construction and intends to sell the home to a household at or below 80% of area median income for a target sales price of $190,000.
Springfield City Council voted July 14 to authorize the city to convey two parcels identified as 8 Ringgold Street in Memorial Square to the North End Housing Initiative for $7,500. The developer plans to construct a single-family home for sale to a household at or below 80% of area median income using HOME program subsidy.
City housing staff said the project will rely on a HOME subsidy…
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