Trotter General Contracting in Macomb, IL will build the homes which will then be sold to buyers who qualify under the provisions of the federal program. The proceeds from the sale will return to the fund to acquire other distressed properties and fix them up or replace them, possibly with additional modular homes.
To qualify, applicants must earn 120 percent or less than the Whiteside County median income of $69,960 for a family of four. Homebuyer must not own any other home at the time, and must complete an eight hour HUD counseling session.
Mike Wolber, coordinator of the program and former city building and zoning administrator, says, “We have sold 17 houses, nine of which were newly constructed homes, through this program. The original grant was for $2.7 million, and we’ve generated another $816,000 in sales of rehabbed properties.“ Additionally, the city received $285,000 from the attorney general’s mortgage settlement fund.
The foundations are expected to be set in mid-May, as saukvalley has told MHProNews. The city has no more grant funding for construction projects, but intends to proceed with work on distressed properties. ##
(Photo credit: winonadailynews/Andrew Link–modular home being sited)
