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STEP to rehabilitate two homes under city agreement; 15‑year affordability attached
Summary
Council approved an owner development rehabilitation agreement with STEP that will fund rehabilitation of two homes recently acquired for a homeownership program. STEP plans to rehabilitate the properties using in‑house crews and local contractors; the units will carry a 15‑year affordability period.
Council approved an owner development rehabilitation agreement with STEP that will allow the nonprofit to rehabilitate two homes acquired for the city’s homeownership program. City staff said the agreement was split from an earlier acquisition item to meet HUD spending deadlines; STEP’s president and CEO, Rochelle, reported the organization purchased its second home in the city and will begin rehabilitation work.
Rochelle said one home is on Railway Street and the other is on 1st Avenue (address given in the record), and that both houses were in significant disrepair. “The purchase of the second home will allow us to pretty much fully expend those dollars that the city needed to spend by the end of the summer,” Rochelle said. She added the homes will carry a 15‑year affordability period when sold to eligible low‑ or moderate‑income families. Council members praised STEP’s work and approved the agreement unanimously.
