A $25,000 grant awarded to the HHOC Housing and Land Trust by the Nareit Foundation is helping to make first-time homeownership possible for six workforce families in Hawaii.
The grant is being utilized to cover carrying costs, like insurance, utilities, and association dues, and to pay for light renovations, such as replacing water heaters, painting interiors, and cleaning carpets to prepare the homes for the new owners.
The program sells homes at below-market prices and ensures they remain affordable through a deed restriction. Participants qualify by being first-time homebuyers and having a combined family income at or below 120% AMI.
Nareit Hawaii Executive Director Gladys Quinto Marrone said, “The dedication and diligence of the HHOC Housing and Land Trust to have families become homeowners is remarkable. It's a privilege to offer our support knowing how important this is to keep a family together.”
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