City of Alexandria has been awarded $7.7 million for affordable homeownership programs

From the Alexandria Office of Housing:

The City of Alexandria has been awarded $7.7 million from the Virginia
Housing Development Authority (VHDA) to help make homeownership more
affordable for households with members who live or work in the City.
This funding is being provided through VHDA’s Sponsoring Partnerships
and Revitalizing Communities (SPARC) Program.

The funding will be used in conjunction with the City’s Homeownership
Assistance Program, which assists lower income households with annual
incomes of up to $82,160 for a family of four, and Moderate Income
Homeownership Program, which assists households with incomes of up to
$102,700 for a family of four. SPARC funding will be enhanced with
$936,955 in federal funds from the Neighborhood Stabilization Program,
which targets communities that have been most affected by
foreclosures.

“These funds provide an important complement to the City’s home
purchase assistance programs,” said Alexandria Mayor William Euille.
“The City has a long history of helping first-time homebuyers and we
are dedicated to making homeownership both achievable and affordable
for lower and moderate income City residents and workers.”

Individuals who wish to apply for assistance through the City’s
homeownership programs must be first-time homebuyers, must have lived
or worked in the City during the most recent six month period, and
must purchase a home located within the City of Alexandria. All funds
are limited, so interested households are encouraged to begin the
process by registering to participate in a mandatory, free
homeownership training offered through the City’s Office of Housing.
For more information, call the City of Alexandria’s Office of Housing
at 703.746.4990, TDD: 703.838.5056.

For more information, contact Shane Cochran at 703.746.4990 or
Shane.Cochran@alexandriava.gov

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