Acquisition/Rehab Projects

The City of Champaign has been offering incentives to low-moderate income individuals to purchase new homes in targeted neighborhoods.  The City has been offering this program since for approximately 6 years, but saw the interest drop off during the recession.  As an indication that things may be turning around, there has been renewed interest in this program just in the last 3 weeks.  Susan Jones, Community Development Specialist has taken seven applications for home purchases that will take place from now until June 30, 2014.  The program provides up to 10% down payment (of the purchase price) and uses up to $25,000 to make the home meet current building code.  Home purchases are in located in Planning Areas 1, 4, 8, 9, and 14.