Taken from www.cityoftaylor.com:
In an effort to help end the cycle of poverty for lower-income families, the City of Taylor kicked off its affordable home sales program at November 28, 2007, at City Hall, 23555 Goddard Road.
The city has purchased 11 homes from the U.S. Department of Housing and Urban Development (HUD) for $1 each. The city will refurbish the homes and then offer them at market or below-market rates. Early income generated from the sales of homes will go toward rehabilitating homes that need work.
U.S. Rep. John D. Dingell brought the idea for the program to Taylor Mayor Cameron G. Priebe, who said the city will be aggressive in the marketplace.
Mayor Priebe said the program, known as Taylor Cares, is important because it provides affordable housing to people interested in becoming homeowners, reduces the number of vacant homes in the city and can eliminate blighted homes from a neighborhood.
The FHA-foreclosed homes became available after HUD was unable to sell them for six months. They were made available to the City of Taylor for $1 each.
The city will make improvements to the homes that need them, using local contractors, and offer them for sale, using local real-estate agents. The city hopes to sell the homes to low- and moderate-income individuals, families and seniors. The buyers must meet a set of guidelines.
The first 11 homes purchased by the city are scattered from the far north end of Taylor to the southeast corner. The homes have two or three bedrooms. Some have basements.
Mayor Priebe said the entire city gains because homeowners often show more pride in their community than renters.
The Mayor credited Congressman Dingell’s leadership in getting the Taylor Cares program started in the city.
Jon Belanger, the city’s community housing coordinator, said applicants must meet income guidelines provided by HUD and other stipulations. He said local financial institutions may offer lower mortgage rates to participants.
The city plans to consider other homes when they become available. Only municipalities are eligible to purchase the homes for $1 each.
For more information about the homes and the details of the program, please call Jon Belanger or Debbie Knight of the City of Taylor Community Housing Team at (734) 374-8776
Taylor Cares Program Fact Sheet
November 28, 2007
Taylor Cares is a partnership between the City of Taylor Good Neighbor Program and the U.S. Department of Housing and Urban Development (HUD).
▲To combat blight and revitalize neighborhoods.
▲To reduce the amount of vacant homes within the City of Taylor.
▲To help low- to moderate income families become proud homeowners.
▲To improve the quality of life for these families: breaking the “cycle of poverty.”
▲To place properties back on the City of Taylor tax rolls.
▲Purchase homes for $1 each from HUD.
▲Deed homes to the Taylor Housing Commission, “Taylor Cares” LLC.
▲Refurbish the homes and sell them to low- and moderate-income residents.
▲Homes that are in total disrepair will be demolished to create green space or to make way for new homes.
▲All proceeds from the sales of the homes will be used to support community development initiatives within the City of Taylor.
▲September 2007: City of Taylor partnered with HUD on a program in which FHA-foreclosed homes are available for purchase by the city for $1 each.
▲October 2007: City submitted paperwork to purchase 11 single-family homes for $1 each.
▲October 2007: HUD’s appraised value of the 11 homes: $948,900.
▲November 2007: 8 additional homes became available to the City of Taylor for the cost of $1 each.
▲November 2007: City submitted paperwork to purchase the 8 homes for $1 each.
▲November 2007: HUD’s appraised value of the additional homes: $692,300.
▲As of November 2007, 19 homes are in the process of being purchased by the City of Taylor for a total of $19.
▲The appraised value of the 19 homes is $1,641,200.
▲When the Taylor Housing Commission sells the homes at a profit of an estimated $30,000 each, about $570,000 will be available to put back into the city for community development.
▲Approximately 40 more single-family homes will be available through HUD in the next few months. These homes also will be refurbished and sold to low- and moderate-income residents at a modest profit that will be used for community development.
▲Applicants must meet income guidelines provided by HUD.
▲One person in the family must have had a full-time job for at least two years.
▲The buyer must agree to live in the home at least five years.
▲Applicants must participate in a homeownership program that teaches budgeting for house payments, maintaining a home and other information related to owning a home.
▲Local real-estate agents and contractors will be involved in the sales and rehabilitation work.
▲Local financial institutions will be involved in the program.
▲The “dollar home program” was brought to the attention of the City of Taylor by Congressman John D. Dingell.
▲Assisting in the “dollar home program” are members of the Chapman Law Firm of Ohio.
▲Assisting with the closing documents on the first 11 homes in the program is Custom Closings of Farmington Hills.
Taylor’s Community Housing Team:
▲The Community Housing Team was formed by Taylor Mayor Cameron G. Priebe to improve the quality of life for residents.
▲Jon Belanger, coordinator
▲Debbie Knight, administrative assistant
For More Information:
▲To inquire about home availability in the “Taylor Cares” program, call Jon Belanger or Debbie Knight of the Community Housing Team at (734) 374-8776.
National Faith HomeBuyers:
▲A new program in the City of Taylor will assist anyone interested in buying a home.
▲The Wayne County Home Consortium has partnered with National Faith HomeBuyers to present and manage the program, which helps families become homeowners and financially stable. County officials are administering the program on behalf of the HOME Consortium, of which Taylor is a member.
▲Prospective homebuyers must complete a homebuyer educational program, as provided by the National Faith HomeBuyers. The program is set up to help homebuyers create wealth and take care of credit problems.
▲National Faith HomeBuyers has a track record of helping families become homeowners and financially stable. Since 2001, the program has counseled more than 7,000 families, leading to more than 1,000 first-time home purchases.
▲Frederick E. Zorn Jr., executive director of the city’s housing and neighborhood development services.
▲The program kickoff on November 15 attracted a capacity crowd to the Heritage Park Petting Farm educational center.
▲For more information on National Faith HomeBuyers, visit the Web site www.nationalfaith.org.