Go Forward Pine Bluff held the first of two required public meetings Thursday night at SeArk College to present information on the Targeted Neighborhood Enhancement Plan Act.
The Act promotes homeownership in distressed areas by profiling the neighborhood conditions and offering incentives for homebuyers.
The area being targeted by Go Forward Pine Bluff for this plan is an area between 17th Avenue to 34th Avenue and Hazel Street to Olive Street. The program intends to help first time homebuyers with credit limits obtain housing with assistance provided for down payments and closing costs.
The area being targeted is an area that Urban Renewal has been working to tear down dilapidated houses which leave areas that need to be redeveloped. Additionally, it is a high crime area that local officials are hoping that they can combat with responsible home owners that could help stabilize the neighborhood.
Go Forward Pine Bluff grant writer Owen Mouser spoke with Deltaplex News about the program and how it could help with the crime issue.
Go Forward Pine Bluff CEO Ryan Watley said the program is set up to help people who may have some debt and issues with credit obtain the American Dream of owning a home.
Urban Renewal has been demolishing dilapidated houses in the area and Watley said it is important to revitalize those properties and to hold the landowners accountable if they owe the city for those demolitions.
If a citizen is approved for a home under the program where will be some requirements involved, to include having to reside in the home for at least five years.
Watley said that 12 citizens have been able to obtain homes through the program so far, and things are going great for them.
To qualify a citizen must have at least a 585 credit rating. There is a debt ceiling of $4000 as well. Additionally, an incentive program will be presented to the Urban Renewal board for approval that will allow for a 10 percent discount in the price of a home if the home is rehabilitated and can pass inspection for a new homeowner, while a 20 percent discount is proposed for new construction on properties that have been demolished by Urban Renewal.
The second required public meeting presenting information on this plan will take place Tuesday, July 19 at the SeArk College Welcome Center at 5:30 p.m. Any interested citizens are encouraged to attend.
