DOWNEY - The city of Downey on Tuesday agreed to contribute $182,000 in federal grant monies to Habitat for Humanity for the purchase of a Downey home.Downey previously received a grant from the federal Home Investment Partnership Grant (HOME), a program that grants local governments opportunities to create affordable housing for low-income households. One of the grant's stipulations was that the city set aside no less than 15% of the funds for non-profit housing developers, community development director Brian Saeki wrote in a staff report. Habitat for Humanity is interested in acquiring property at 7036 Dinwiddie St. The house is currently in foreclosure and owned by Wells Fargo. The property is available for $272,000 and Habitat for Humanity is requesting $182,000 from the city to secure the purchase. Repairs and upgrades will be made to the house using a team of volunteers. The home, a 3-bedroom townhouse, will then be sold to an eligible family for an estimated $289,000 to cover development costs.
********** Published: July 15, 2010 - Volume 9 - Issue 13