The program received $3,563,346 on behalf of Bartow, Floyd, Gordon, Walker and Whitfield County through the Housing and Economic Recovery Act of 2008, according to the NSP.
The figures show that Gordon County was allotted $290,630 of the overall fund. The fund continually grows with the program, because for every house that is sold the profits are put back into the fund to keep it growing, according to Michael Miller the NSP program Manager.
The NSP said the goal of the program is to “purchase, rehabilitate and resale vacant Real Estate Owned properties.”
The program also offers homeownership assistance loans to eligible census purchasers, according to Michael Miller.
According to the NSP, the amounts allocated:
Qualifying properties are preferred to be bank owned, vacant properties to avoid relocation expenses and properties constructed after January 1, 1978 to avoid expenses associated with lead based paint, according to NSP.
NWGRC targets vacant properties to avoid displacing individuals, and according to the NSP, this is possible due to the large number of vacant foreclosed homes in the regions.
To be eligible to purchase one of these homes, according to the NSP, one must be at or below the 120 percent of the median income, and the Metropolitan Statistical Area of Atlanta/Chattanooga determines this income margin.
NWGRC said they are committed to affirmatively furthering fair housing through education, and will not discriminate based on disability, race, color, religion, sex, national origin or family status.
To date the NSP has invested $525,000 in homes in Gordon County. Showing the path of the investments, it has sold one of the houses bought with the funding, two are under contract and rehab of houses are complete and one is available for sale.
The program has also identified three more possible homes in Calhoun that meet the parameters of the program.
The NSP stated, “The NWGRC NSP is helping workforce families and individuals to realize the dream of homeownership.”
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