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County will take part in neighborhood stabilization program

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News Woodbury,Minnesota 55125 http://www.woodburybulletin.com/sites/all/themes/woodburybulletin_theme/images/social_default_image.png
Woodbury Bulletin
County will take part in neighborhood stabilization program
Woodbury Minnesota 8420 City Centre Drive 55125

The Washington County Board of Commissioners approved an agreement June 9 to use $1.6 million in federal Neighborhood Stabilization Program funds to help purchase and rehabilitate homes in the county.

The funds come from the 2008 Housing and Economic Recovery Act, through Minnesota Housing to be used to rehabilitate blighted or foreclosed homes.

The county will work with the Washington County Housing and Redevelopment Authority, Two Rivers Community Land Trust, and the cities of Cottage Grove and Oakdale to acquire, rehabilitate and sell up to 30 units of foreclosed homes and up to 12 units of foreclosed rental properties.

The homes will then be sold to eligible buyers who meet income guidelines. The homebuyers will also be required to attend an eight-hour class on homeownership.

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