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The city of Jackson is expanding a program meant to help fund down payments on 100 new houses being built on vacant city-owned residential lots.
State grants will be layered on top of existing federal funds to increase the amount of assistance available to prospective homeowners.
Currently, the 100 Homes program provides $25,000 towards a down payment.
The new grants will provide up to another $25,000 depending on the applicant’s income level.
Grant Administrator Cory Mays said the change could have a big impact.
“This is going to open up wide for folks that have really been on that line,” Mays said. “They’ve got a good credit score. They’re right there, but $25,000 wasn’t quite enough. This is going to provide that lifeline that we’ve been looking for and that they’ve been looking for.”
Currently, 52 families have been approved for assistance. 34 houses have already been completed with the other 18 under construction. The city has more than 1,800 pending applications for the program.
Any unused federal funds received under the American Rescue Plan Act of 2021 will expire at the end of the year.
Mays said the extra boost could help the city hit its goal of connecting another 48 prospective homeowners with houses before that deadline.
“We are adamant on that goal,” Mays said. “You supported our mission two-and-a-half years ago, and it is incredibly important that we reach that finish line. Failure is really not an option, not from where I sit.”
The city is looking into ways to encourage participation, including advertising and working with realtors.
