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St. Lawrence County will seek $850,000 to assist homebuyers

Posted 9/18/16

By JIMMY LAWTON CANTON – St. Lawrence County will seek $850,000 in Community Development Block Grant funding to provide assistance to first-time homebuyers. St. Lawrence County planner John …

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St. Lawrence County will seek $850,000 to assist homebuyers

Posted

By JIMMY LAWTON

CANTON – St. Lawrence County will seek $850,000 in Community Development Block Grant funding to provide assistance to first-time homebuyers.

St. Lawrence County planner John Tenbusch says the county has been successful in receiving 21 rounds of funding since 1992. Collectively the county has received more than $12.5 million funding through the program and has helped nearly 600 St. Lawrence County homeowners rehabilitate or purchase a home.

Tenbush says a large part of St. Lawrence County’s success in receiving the state money is due to the area’s high need.

Tenbusch says last year the median household cost in the county was about $90,000. He said while many people can afford a mortgage on such a home, a significant number aren’t able to come up with the down payment.

This program provides assistance to bridge that gap and allows residents to purchase a home and begin building equity.

The program also provides assistance for rehabilitation of homes. Tenbusch says the county planning office alternates years between purchasing and rehabilitation assistance.

He said the county has never failed to spend the CDBG funding in any of the years it’s been received.

There is a two-year deadline on the spending once it is received, but he says the grant funding is typically gone within the first year.

On Monday legislators approved a resolution allowing the St. Lawrence County Planning Department to apply for the grant.