The Neighborhood Stabilization Program is no longer involved in the "$1 home" that was the subject of some confusion at Monday's Board of Commissioner meeting but is getting ready to present about 10 properties for approval by the BOC, according to NSP adminstrator Alice Cintron.
Housing and Urban Development authorities had notified Cintron about the house it owned at 1577 Sugar Plum, which was a foreclosed property listed at $1 because it had sat on the market beyond a certain period of time. However, because of HUD rules, the Conyers Housing Authority was the only local agency able to buy the property, said Cintron. Initially there were plans to collaborate by CHA purchasing the property and NSP renovating and selling the property as part of the NSP program.
Then, "the Conyers Housing Authority told us they had sufficient funds to renovate it themselves," said Cintron, and that NSP could use the funds towards renovating another property.
The $2.7 million NSP program, approved in March, is part of a national stimulus-grant funded program and purchases foreclosed homes, renovates them and sells them at below market values to screened middle and some lower income homeowners. Four asset management companies were approved by the BOC in June to purchase the homes for the NSP program.
Cintron said the NSP program is preparing to present about 10 properties for approval to the BOC in the coming weeks. The NSP program in Rockdale aims to purchase, renovate and sell about 20 homes in all.
According to the county website, "Eligible applicants, who select a NSP home, submit earnest money and an executed contract as well as complete the home counseling and NSP certification process, will receive a down payment assistance commitment up to $14,500 from NSP."
Applicants interested in purchasing an NSP home can go to www.rockdalecounty.org or call 770-278-7551. Applications can be found at the information desk at the Rockdale County Administration and Services Building, 958 Milstead Avenue Conyers, Georgia 30012.