Home Tour Features Affordable Homes For-Sale and a New Finance Incentive
The City of Minneapolis and LiveMSP are sponsoring a tour on Saturday, May 14, 11 a.m. – 3 p.m. of affordable, for-sale properties in South and North Minneapolis neighborhoods impacted by foreclosure. The tour includes some of the homes rehabilitated with funding from the Neighborhood Stabilization Program (NSP) which has helped stabilize and support the revitalization of impacted neighborhoods. These targeted resources are used for demolition and renovation of foreclosed homes as well as incentive programs to help homebuyers purchase in these neighborhoods.
The City announced Wednesday, May 11, that it is offering a $1,500 incentive to homebuyers purchasing homes on the tour for closing cost or down payment assistance. This program is in addition to the other incentives and assistance the City of Minneapolis offers:
- CityLiving: Low interest mortgage financing, including down payment and closing cost assistance.
- Take Credit!: A 20% federal income tax credit that can be used toward the amount of taxes owed.
- Minneapolis Advantage Program NSP: Financial assistance ($10,000 - $20,000) for homeowners purchasing in areas challenged by foreclosure.
Tour-goers can pick up a tour map and a listing of the various incentives and assistance the City of Minneapolis offers at 4048 Fifth Ave. S. on the South side or 3835 Fremont Ave. N. on the North side.
South Minneapolis neighborhoods on the tour include Bryant, Central, Powderhorn Park, and Phillips.
North Minneapolis neighborhoods on the tour include Cleveland, Folwell, Harrison, Hawthorne, Jordan, Lind-Bohanon, Near-North, Victory, Webber-Camden, and Willard-Hay.
For more information on the tour, see www.livemsp.org.
Published May 11, 2011