State grant may help out local homebuyers
NORWICH – First time home buyers in Chenango County may be eligible for a financial leg up, thanks to a grant opportunity that’s been pursued by county leaders and Opportunities for Chenango.
A resolution authorizing acceptance and establishing a disbursement account for the First Time Homebuyer Program – an initiative started by Opportunities for Chenango to educate potential homebuyers about the facts of homeownership and the buying process – was adopted by the county Board of Supervisors earlier this week.
Opportunities for Chenango and local government officials began the process of applying for a $350,000 Community Development Block Grant through the New York State Office of Community Renewal back in January. That application was recently approved by the state department, meaning county government will act as a conduit providing funds to OFC for the seventh installment of the First Time Homebuyer Program.
OFC anticipates that grant funds will help put as many as 14 eligible, low-income homebuyers into a new home.
OFC’s First Time Homebuyer Program has served 109 individuals and families since being implemented. Qualified families and individuals have been given up to $23,000 in grants for a downpayment on a new home and to help offset closing costs. The offering is available to potential homeowners who meet certain criteria and earn up to 80 percent of the county median annual income (which is $51,650 for a family of four).
In January, OFC began the process of surveying area residents to vouch for the state grant. Survey forms were made available in towns and villages across the county, as well as a libraries, the Department of Social Services, Head Start, and the county planning department. The survey was also available on OFC’s website.
OFC Housing Director Karen Glasbergen explained the need to justify their application to the state Office of Community Renewal. OFC must prove that there is a need in the county, Glasbergen said when preparing a grant application back in January. She added that the survey issued by OFC will help show an interest from people in the community, and that funding is put to good use.
Chenango County has a fruitful history when it comest to obtaining funds for the First Time Homebuyer Program. The county has been awarded the grant year after year, and has continually met anticipated goals of people served.
The seventh round of the First Time Homebuyer Program is likely to start in the fall. For more information, visit the “housing services” page of OFC’s website, www.ofcinc.org.
A resolution authorizing acceptance and establishing a disbursement account for the First Time Homebuyer Program – an initiative started by Opportunities for Chenango to educate potential homebuyers about the facts of homeownership and the buying process – was adopted by the county Board of Supervisors earlier this week.
Opportunities for Chenango and local government officials began the process of applying for a $350,000 Community Development Block Grant through the New York State Office of Community Renewal back in January. That application was recently approved by the state department, meaning county government will act as a conduit providing funds to OFC for the seventh installment of the First Time Homebuyer Program.
OFC anticipates that grant funds will help put as many as 14 eligible, low-income homebuyers into a new home.
OFC’s First Time Homebuyer Program has served 109 individuals and families since being implemented. Qualified families and individuals have been given up to $23,000 in grants for a downpayment on a new home and to help offset closing costs. The offering is available to potential homeowners who meet certain criteria and earn up to 80 percent of the county median annual income (which is $51,650 for a family of four).
In January, OFC began the process of surveying area residents to vouch for the state grant. Survey forms were made available in towns and villages across the county, as well as a libraries, the Department of Social Services, Head Start, and the county planning department. The survey was also available on OFC’s website.
OFC Housing Director Karen Glasbergen explained the need to justify their application to the state Office of Community Renewal. OFC must prove that there is a need in the county, Glasbergen said when preparing a grant application back in January. She added that the survey issued by OFC will help show an interest from people in the community, and that funding is put to good use.
Chenango County has a fruitful history when it comest to obtaining funds for the First Time Homebuyer Program. The county has been awarded the grant year after year, and has continually met anticipated goals of people served.
The seventh round of the First Time Homebuyer Program is likely to start in the fall. For more information, visit the “housing services” page of OFC’s website, www.ofcinc.org.
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