The Northwest Georgia Regional Commission received a total of $6.6 million, which was divided between the member counties, according to Gordon County Commissioner Dick Gordon. Gordon County got $540,000, he said.
The goal is to use the money to purchase houses for less than $100,000 apiece and resell them at affordable rates to economically challenged families, he explained.
Families who qualify for the program after being prescreened by a bank may be chosen to purchase a home, he said. The money they pay on the houses will then be cycled through the bank back into the program.
Gordon said one house in Gordon County has been acquired for the program and the closing will occur in approximately 30 days. The house is a HUD home, he said, and needs about $15,000 worth of work including repainted walls, new carpet and a new refrigerator.
New homeowners must be Gordon County residents, he said, and down payment assistance may be available.
Several other counties in the 10-county regional commission are using their allocated funds to arrange similar housing projects, said program coordinator Frank Bibb.
Individuals interested in the Gordon County program should contact Commissioner Dick Gordon at 770-294-6854.