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>> Rockdale County Celebrates NSP's 1-Year Anniversary
CONYERS, Ga. – The Rockdale Neighborhood Stabilization Program (NSP) is celebrating its one-year anniversary by commemorating its first closing that was May 17 of last year. A single person bought the home, located at 2426 Windridge Dr., Conyers. It represented one of 25 homes under the initial launch of the program.
In honor of the program’s anniversary, ROC will execute two closings on May17, 2012 to represent two years of homeownership success. Rockdale County has received approximately $4.5 million in NSP funds from the Georgia Department of Community Affairs since the inception of the program. Rockdale NSP will continue to create affordable homeownership opportunities for program participants.
Since that first home closing, the County is marking the following accomplishments to date:
-25 homes sold
-5 home sales pending
-3 homes are under revitalization
-4 additional properties are pending acquisition
-Approximately 200 applications have been received
Rockdale County’s NSP anchors communities by acquiring and renovating multiple vacant homes within the same targeted neighborhood. In turn, homeownership opportunities afforded to eligible purchasers who have received the necessary education and meet other program requirements. The federal program is designed to minimize the impact of declining neighborhood values and improve deteriorating conditions resulting from the presence of foreclosed homes.
Eligibility for NSP varies based on a multitude of family situations, including a family of one with an annual income of up to $57,000 to larger families with annual salaries of more than $105,000. Interested applicants may currently reside in or outside of Rockdale County.
“This first year with the NSP has been an incredible example of what can be accomplished when all levels of government work together with the private sector to help our communities,” Commission Chairman and CEO Richard A. Oden said. “This is another jewel in the crown of many successful programs we have in the County.”
To make homeownership possible for working families, Rockdale County NSP offers eligible applicants up to $14,500 in homebuyer assistance plus five percent toward closing costs. The program is available to financially qualified borrowers who complete the Rockdale NSP eligibility application and required HUD-certified homeownership education and counseling.
Local contractors renovate the properties. NSP invests an average of $25,000 in repairs and improvements per home as an added benefit to the buyer. All contracted work is inspected and held to building and codes standards the Rockdale County Department of Planning & Development sets forth. As repairs are completed, the homes are marketed and sold through participating local real estate professionals.
“It has been so rewarding to see the families that I’ve worked so closely with move into homeownership and a new way of life,” NSP Coordinator Tanesha Lanier said. “I’m excited about what’s to come in another successful year.”
For more questions, contact email@example.com or call the NSP hotline at 770-278-7550. For eligibility details, homebuyer testimonials, an application and other information, visit www.rockdalecounty.org.