"Olathe families will begin to reap the benefits of the federal Neighborhood Stabilization Program in April.
Olathe's Housing Services Division began taking applications this week for the program, which will use $1.9 million in stimulus funds to purchase foreclosed and abandoned houses.
The city will seek bids to rehabilitate those properties and then either sell or rent the properties to qualified families.
'We received three applications so far and will start the review process,' said Kathy Rankin, city housing services manager. 'We have one owner-occupied property and two rental properties that will bid out for remodeling.'
The city plans to purchase up to three homes to be sold and five to 10 homes to rent. The properties will be rehabilitated with the federal funds, so potential homeowners and renters will have homes that won't need further repairs for at least 10 years."
Olathe's Housing Services Division began taking applications this week for the program, which will use $1.9 million in stimulus funds to purchase foreclosed and abandoned houses.
The city will seek bids to rehabilitate those properties and then either sell or rent the properties to qualified families.
'We received three applications so far and will start the review process,' said Kathy Rankin, city housing services manager. 'We have one owner-occupied property and two rental properties that will bid out for remodeling.'
The city plans to purchase up to three homes to be sold and five to 10 homes to rent. The properties will be rehabilitated with the federal funds, so potential homeowners and renters will have homes that won't need further repairs for at least 10 years."
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Blog post written by the Dowell Taggart Team of RE/MAX Best Associates
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