News from City Hall
City Communications Office
City of Kansas City, Mo.
FOR IMMEDIATE RELEASE: Sept. 6, 2012
City’s HOME Investment Partnership Program celebrates 20 years of assisting first-time homebuyers
The City of Kansas City, Mo., Neighborhoods and Housing Services Department, along with its home ownership partners, including mortgage lenders, realtors and community development corporations, is celebrating the 20th anniversary of the HOME Investment Partnership Program this September.
"This program has been a success for 20 years in Kansas City, Mo., allowing low-and-moderate-income individuals and families to become first-time homeowners,” said Mayor Pro Tem Cindy Circo. “Owner-occupants create stronger neighborhoods. I encourage all those who qualify to explore the opportunities the program provides to help achieve the dream of home ownership."
Since it began in September 1992, the HOME Investment Partnership Program has assisted 1,820 Kansas City, Mo., buyers in purchasing their first home using more than $30.25 million in HOME funds and creating an estimated $138.6 million in real estate sales.The HOME Investment Partnership Program is funded by the U.S. Department of Housing and Urban Development.
“The program has been a staple of the City's efforts to create increasing numbers of low- and moderate-income homeowners and stabilizing our single-family neighborhoods,” said Stuart Bullington, assistant director/senior planner of the Housing and Community Development Division, a division of the Neighborhoods and Housing Services Department.
For the 2012 program year, City staff will partner with Neighborhood Housing Services of Kansas City to assist 60 to 70 eligible Kansas City, Mo., residents interested in buying their first home. Staff will guide buyers through the application process, home buyer education training and other program requirements. The program provides up to 20 percent of the home’s purchase price and is gradually forgiven over a 10-year period. For 2012, the City is focusing its HOME Investment Partnership Program in priority target areas.
To participate in the program, applicants must be first-time homebuyers and meet the following annual income guidelines, as determined by the U.S. Department of Housing and Urban Development:
One person – $41,100 or under
Two people – $46,950 or under
Three people – $52,800 or under
Four people – $58,650 or under
Five people – $63,350 or under
Six people – $68,050 or under
Seven people – $72,750 or under
Eight people – $77,450 or under
Qualified residents interested in the program may begin the application process by contacting the Neighborhoods and Housing Services Department at 816-513-3200.