If you earn less than $63,000 per year and want to live in Old Hailey, there is an opportunity to own one of two homes to be newly built on Walnut Street. The homes will be energy efficient new construction and consist of three bedrooms, two baths, great storage and a garage. Floor plans will be available soon and early buyers will have the opportunity to choose finishes for floors, walls and cabinetry.
IHFA HOME Program Grant
ARCH will receive $140,000 in grant funding for the development of the Walnut Street homes. The grant was awarded by IHFA as part of the HOME funding programs. The award is an evolving grant that begins as a zero interest construction loan. At the time of re-sale to the home buyer, the grant can convert to down payment assistance or a zero interest deferred loan, due upon re-sale of the home.
Funding of this nature is awarded on a competitive basis and ARCH received the maximum award allowable under the program. The land donation by the County and Syringa Networks, together with letters of support from the City of Hailey and the Blaine County Housing Authority helped tremendously in the scoring process. Financial support and construction management skills pledged by ARCH board members were also viewed favorably by the scoring committee.
Want to know more? Phone the ARCH offices at 726-4411.