The Hutchinson Housing Commission on Wednesday requested funds for the 2017 budget for four new programs assisting people with building, buying or rehabilitating homes in targeted areas.
The largest request came at the recommendation of City Council member Steve Dechant. He suggested setting aside money for “gap financing” on infill construction of new homes. In older neighborhoods with vacant lots, it typically costs more to build a new home than it could be sold for. The proposed program could make up that gap between cost and sale price.
Planning and Development Director Jana McCarron said the latest information the city had suggested that gap would be around $20,000, making it an expensive matter on a per-house basis.
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