INDEPENDENCE, Mo. – Families will soon be moving into dozens of foreclosed houses in Independence under a plan to save neighborhoods.
The city received a $2.5 million Neighborhood Stabilization grant.
Elizabeth Feltinberger couldn’t be happier about the program.
"I would like to see somebody in there. It would be nice to see somebody sitting on their porch,” she says.
The home next to hers, in the 600 block of South Hardy, has been vacant for the last year. She’s concerned about strangers prowling around the house.
The entire neighborhood worries about property values.
“It’s not good,” she says.
The city is targeting the home next to Feltinbergers as part of the grant program.
"The city can acquire, rehabilitate, resell foreclosed properties,” says Jennifer Clark who is Community Development Director for Independence.
The city is partnering with Habitat for Humanity to rehab and resell the homes. The homes will be available to families who otherwise wouldn’t have the means to buy.
"That would be a family of four making about $38,000 to $40,000 a year,” says Clark.
The city has a foreclosure rate of close to 8%. Their hope is to change entire neighborhoods.
“What's really important is that we take properties that wouldn't otherwise be bought by an investor or someone who is a traditional home buyer,” she says.
Most of the homes are located in northwest Independence. The work should begin by early spring.
