City sells first Neighborhood Stabilization program home

Elizabeth Femal recently became a first-time home buyer, and the first person to purchase one of the properties the city of Elgin bought and rehabbed with federal Department of Housing and Urban Development Neighborhood Stabilization Program money.

In a process that began more than three years ago, the city received $2.16 million in federal NSP funds to buy, renovate and sell properties in the distressed housing market. Any money made on such sales is required to be put back into the program until that money runs dry.

 

Full story is available on Suntimes

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