NSP Update
March 22, 2011
To date the City of Burlington has demolished the homes at 251 S. Central and 1315 Washington St that had previously been placarded as abandoned and unsafe. The home at 703 Summer St was demolished and a new cape cod style home was placed on the property, and has just recently sold to an income qualified family. The home at 1613 Lincoln St was rehabbed and currently has a sale pending.
We currently have secured bids for the rehab of 805 S. 8th and 1400 S. 13th St. Both of these homes will be rehabbed and sold to low-moderate income families. We are currently seeking bids for the rehab of 408 S. Gunnison St, which will also be rehabbed and put on the market.
The homes must be listed and sold for either the appraised value of the finished home or the cost of the project, whichever is less. However, there may be down payment assistance available through the program, which is based on individual need. Homeowners must secure their own financing.
All monies made back from the sale will go back to the neighborhood stabilization program for future projects. Please stay tuned for future updates.
