Oak Ridge Today

THDA grant will help with down payment assistance in Oak Ridge

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Pictured above in front row are, left to right, Oak Ridge City Manager Mark Watson, Oak Ridge Housing Authority Commissioner Tom Beehan, Tennessee Lt. Gov. Randy McNally, U.S. Rep. Chuck Fleischmann, state Rep. John Ragan, ORHA Executive Director Maria Catron, and Tennessee Housing Development Agency Industry and Government Affairs Liaison Katie Moore; and back row, left to right, ORHA Commissioner Jim Palmer, ORHA Board Chair Jean Lantrip, and ORHA Board Secretary Sharon Crane. (Photo courtesy THDA)

The Tennessee Housing Development Agency has awarded a $106,000 HOME Program grant to the Oak Ridge Housing Authority that will be used to help low-income families purchase a new home.

The Oak Ridge Housing Authority will use the funding to provide assistance up to $14,999 to cover down payment and closing costs for eligible first-time home buyers living in the city limits, a press release said.

“A down payment is often the biggest hurdle to overcome for working families wanting to buy a home,” THDA Executive Director Ralph M. Perrey said. “These funds will allow first-time home buyers who would otherwise be able to afford a mortgage payment to overcome that obstacle.”

ORHA Executive Director Maria Catron said the grant will be used to help low-to-moderate income families, with the exact amount awarded based on the gap needed to cover the buyer’s down payment and closing costs.

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A first in Anderson County: Oak Ridge home demolished as part of state blight elimination program

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The first home to be torn down in Anderson County as part of the state's HHF Blight Elimination Program was being demolished at 678 West Outer Drive in Oak Ridge on Wednesday, May 3, 2017. (Photo by John Huotari/Oak Ridge Today)

The first home to be torn down in Anderson County as part of the state’s HHF Blight Elimination Program was being demolished at 678 West Outer Drive in Oak Ridge on Wednesday, May 3, 2017. (Photo by John Huotari/Oak Ridge Today)

 

Note: This story was last updated at 12:30 p.m.

It’s being described as a first: An Oak Ridge home is being demolished Wednesday as part of a state blight elimination program. It’s the first home to be torn down in Anderson County as part of the state’s HHF Blight Elimination Program.

The property being demolished is at 678 West Outer Drive. It’s owned by the Oak Ridge Land Bank. The demolition, being done by First Place Finish, is estimated to cost close to $3,600, and it is expected to be completed today (Wednesday, May 3).

The work is being funded by the U.S. Treasury’s Hardest Hit Fund, or HHF. Tennessee’s HHF Blight Elimination Program is administered by the Tennessee Housing Development Agency, or THDA. Anderson County is one of six counties in the Volunteer State included in the program.

Under the Blight Elimination Program, qualified nonprofits and land banks can apply for loans of up to $25,000 to cover the cost of acquiring a blighted abandoned home, demolishing it, “greening” the property, and maintaining the vacant lot. The greened lot can then be transformed into new affordable housing or another use that is approved by THDA and is expected to stabilize and improve the neighborhood. [Read more…]

Down payment assistance of $15,000 available for qualified home buyers in Clinton zip code

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This the map of targeted zip codes where $15,000 in down payment assistance is available to qualified home buyers. (Map by Tennessee Housing Development Agency)

This is the map of targeted zip codes where $15,000 in down payment assistance is available to qualified home buyers. (Map by Tennessee Housing Development Agency)

 

A program that kicked off in March offers $15,000 in down payment assistance to certain qualified home buyers in a Clinton area zip code and 54 other zip codes across Tennessee.

The down payment assistance is available through the Hardest Hit Fund Down Payment Assistance program, a federal program administered in the Volunteer State by the Tennessee Housing Development Agency, or THDA.

The help is available in Anderson County in the 37716 zip code. That zip code includes an area north and east of Oak Ridge, extending to Clinton and beyond along State Route 61 and north and south of the highway.

To qualify, home buyers must purchase an existing home in one of the 55 targeted zip codes. The purchase requires a THDA Great Choice Home Loan. [Read more…]

Tennessee housing agency to announce blight elimination partnership with Oak Ridge

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THDA Perrey and Gooch June 8 2016

The Tennessee Housing Development Agency awarded the City of Oak Ridge a $500,000 grant on Wednesday, June 9, 2016, that will be used to renovate more than 60 single-family homes. Pictured above are THDA Executive Director Ralph M. Perrey, left, and Oak Ridge Mayor Warren Gooch. THDA and Perrey will be back on Monday, July 11, to announce a partnership with the City of Oak Ridge to support the implementation of THDA’s Hardest Hit Fund Blight Elimination Program, or BEP. (Photo by John Huotari/Oak Ridge Today)

 

The Tennessee Housing Development Agency will announce a partnership with the City of Oak Ridge to support the implementation of THDA’s Hardest Hit Fund Blight Elimination Program, or BEP, on Monday.

The announcement will be made by THDA Executive Director Ralph Perrey at 1:30 p.m. Monday, July 11. The announcement will be made in the Oak Ridge Municipal Building Courtroom, which is located at 200 South Tulane Avenue in Oak Ridge.

The Hardest Hit Fund Blight Elimination Program assists with the removal of blighted properties in targeted areas within Tennessee, a media advisory said. THDA works in partnership with approved program partners to strategically target residential single-family properties for demolition, site improvement, and acceptable reuse, the advisory said. [Read more…]

State housing grant of $500,000 will be used to renovate more than 60 homes

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THDA Check Presentation to Oak Ridge June 8 2016 Slider

The Tennessee Housing Development Agency awarded the City of Oak Ridge a $500,000 grant on Wednesday, June 9, 2016, that will be used to renovate more than 60 single-family homes. Pictured above are THDA Executive Director Ralph M. Perrey, third from left, with other state and Oak Ridge officials. (Photo by John Huotari/Oak Ridge Today)

 

The $500,000 state housing grant that Oak Ridge received Wednesday will be used to renovate more than 60 homes, officials said.

The HOME Program grant is from the Tennessee Housing Development Agency, or THDA. It’s funded by the U.S. Department of Housing and Urban Development and administered in part by the THDA in Tennessee.

“The HOME dollars will be of good use in making these homes safe, sound, and affordable,” said Ralph M. Perrey, THDA executive director.

The city plans to use the money to renovate 63 owner-occupied, single-family homes in the Manhattan District Overlay zone. Oak Ridge created the zone, which includes so-called “legacy homes,” mostly in the center of the city, to improve the development that is carried out in its oldest neighborhoods, a press release said.

The HOME grant money will allow Oak Ridge to replace electrical wiring systems and wall insulation, and install double-paned windows for the targeted homes, which date back to the World War II era, when the city was involved in the Manhattan Project. The city’s work under the HOME grant will be carried out in conjunction with Make Oak Ridge Energy Efficient, or MORE2, a project that is performing energy retrofits for 229 homes in the designated neighborhoods, the press release said. [Read more…]