Showing posts with label Housing Loan Board. Show all posts
Showing posts with label Housing Loan Board. Show all posts

August 18, 2009

Half-price homes: Local government employees may get great deal on city-owned houses

If you work for a local government, this home at 912 Birch St., could be yours for $43,000
under a program being considered by the City Council.


The city will consider selling five houses at half price to local government employees under a proposal introduced to the City Council Tuesday night.

City, county and Racine Unified employees would be eligible for the "Choose Racine Home Purchase Program," which would require them to live in the homes for at least five years. The homes, all owned by the city, for sale include:
  • A duplex at 900 Center St.
  • 1732 Mead St.
  • 1805 Mead St. (needs repair before sale)
  • 906 Walnut St.
  • 912 Birch St.
The idea was presented in a letter by Development Director Brian O'Connell to the City Council. It's an alternative, or possibly an addition, to an idea introduced by Aldermen Aron Wisneski and Terry McCarthy to encourage local government employees to build homes in the city.

The home construction proposal is somewhat limited because there are only about three lots in the city that would be eligible. The home purchase program would expand the city's efforts to attract new home owners.

The home on Birch Street was involved in a serious fire in 2007. Firefighters rescued a 4-year-old boy from the blaze, which severely damaged the home located near the Root River.

Housing Technician Bill Bielefeldt worked to save the home, which had to be completely gutted. New plumbing, electricity, drywall, furnace and water heater were installed. The home also has new siding, kitchen cabinets, flooring, carpet and a new roof.

The 931-square-foot home, with two bedrooms and one bathroom, was featured on the 2008 tour of homes. It's now listed at $85,900, which is marked down $25,000 since June. Buyers may also be eligible for special loan programs.

The "Choose Racine Home Purchase Program"was referred Tuesday night to the Housing Loan Board for further consideration.