FY2019-20 Neighborhood Development Annual Report

Housing Connect GSO

DPA HIGHLIGHTS

By the end of FY 2019-20, the City’s Neighborhood Development Department had helped with the purchase and closing of 324 houses. The Down Payment Assistance (DPA) program provides up to $15,000 in down payment assistance and closing costs as a fve- year, forgivable loan at zero percent interest. And the program isn’t only for frst-time homebuyers. Potential buyers who have not owned a home within the last three years may also apply.

• All 324 homebuyers were frst- time buyers. • Average amount of down payment assistance received was $9,954. • Seven of the homes

purchased were in City redevelopment areas,

Neighborhood Development led a Homeownership Month initiative and social media campaign June 1-30 encouraging city residents to look forward to homeownership. This year’s theme was “Homeownership means looking forward to...stability, community, good credit, and building wealth.”

specifcally Willow Oaks, Ole Asheboro, and Arlington Park.

Residents were invited to engage with Neighborhood Development on Facebook and learn about the City’s down payment assistance program, as well as some of the benefts of owning a home in Greensboro. Each week, a diferent beneft of homeownership was highlighted along with relevant resources and real stories from

homeowners around the city.

The department wrapped up the month-long initiative by hosting an online Homeownership Q&A session on Facebook Live to connect residents with experts who could answer their questions about the home buying process. This event was ofered in place of the annual in-person Homeownership Fair due to COVID-19. The DPA program is one part of Neighborhood Development’s comprehensive homeownership services under the Housing Connect GSO banner. Find out more information about Housing Connect GSO on the Neighborhood Development website. Find out more about our DPA program and available resources .