Successful applicant of City ' s Homebuyer Assistance Program closes on first home
From the Community Land Trust of Palm Beach County and the Treasure Coast :
Bill ' s journey to homeownership through the City of Port St . Lucie ' s New Homebuyer Assistance Program ( HAP ) is a testament to perseverance . With up to $ 100,000 in HAP assistance and by making the home part of the Community Land Trust of Palm Beach County and the Treasure Coast ( CLT of PBCTC ), he was able to overcome financial hurdles to purchase his first home .
Adding the home to the CLT of PBCTC brings multiple benefits to the homeowner and to the greater community . The homebuyer is able to obtain affordable homeownership and have a reduced property tax rate as the taxes are calculated using the sales price minus the subsidy funds . Additionally , the City of Port St . Lucie benefits by a market rate home being made part of the inventory of permanently affordable and owner-occupied homes in the community .
With all CLT of PBCTC homes , the subsequent buyer will be another income qualified first-time homebuyer with a resale price that provides some return , assuming values continue to increase , to the current owner while being within financial reach to another first-time homebuyer so that public funds for homeownership benefit a large number of households over time .
Now a homeowner , Bill is preparing for the sergeants ’ exam to join the St . Lucie County Sheriff ’ s Office as a deputy . He aims to maintain strong financial habits and be an active , contributing member of his new neighborhood .
Reflecting on his journey , Bill expressed gratitude : “ I would just like to thank the members of the Community Land Trust , including Christina Hewitt , for this exceptional opportunity . Being a homeowner has given me an immense feeling of safety and progress toward my long-term goals .”
PSL
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