City Commits to Homebuyer Incentive Program
I learned today that the City's Community Planning and Economic Development has fully committed $50,000 to our portion of the University District Partnership Alliance's Homebuyer Incentive Program. This program will offer $10,000 in down payment assistance to people seeking to buy and homestead properties in one of the University District neighborhoods: Cedar Riverside, Southeast Como, Prospect Park, the West Bank and Marcy Holmes.
This was one of my major goals for the City's participation in the Alliance, and I am glad to have been able help the City match the amounts contributed by the University and the state legislature through the Alliance. I'm optimistic that this investment will not only help us increase the home ownership rate in the U District, but also send a signal that the City is dedicated to preserving the character of the U District neighborhoods.