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EDA hears Mount Rogers ARS presentation; approves Ag Relief payout at 23% of tax value for applicants
Summary
Mount Rogers Planning District Commission presented the ARS (Acquire, Rehab, Sell) program to the Grayson County EDA; after a review of applications the EDA voted to allocate 23% of applicants' open-land tax value (about $100,000 of a $200,000 fund) to aid producers affected by storm damage, with taxes paid first for delinquent accounts.
Mount Rogers Planning District Commission staff gave a detailed presentation on the Acquire, Rehab and Sell (ARS) program and how it can be used by the EDA to acquire undervalued properties, renovate or construct housing and market units to first-time homebuyers at or below 80% area median income.
The presenter said the DHCD-funded program allows the CDA (community development authority) to purchase properties, use program funds (up to approximately $60,000 per unit in the local program design) with $53,500 typically available for renovation or construction costs, and require counseling and down-payment assistance to eligible…
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