The City of Valdosta will receive more than $230,000 in Community HOME Investment Program grant funds. The funds will be used to provide housing rehabilitation and lead paint abatement for 11 homeowners, and down payment assistance and loan guarantees for two families in the city of Valdosta. Funds must be utilized to assist low and moderate-income families.

"We are working extremely hard to help low and moderate-income citizens reside in decent, safe and affordable housing," Mayor John Fretti said. "Receiving these grant funds will allow us to help 11 homeowners repair and revitalize their homes and provide two families the opportunity to purchase affordable housing as first-time home buyers."

The city will implement an agreement with the Valdosta Housing Authority to provide construction management oversight and to address all lead issues.

The Housing Authority will determine the two families to receive down payment assistance according to their knowledge of which housing authority families are ready to assume this responsibility and have expressed an interest in home ownership.

The city will provide down payment assistance and a loan guarantee to a local financial institution, which will provide the necessary mortgage financing.

Funds for CHIP are allocated through the United States Department of Housing and Urban Development. Valdosta is one of only 19 Georgia communities to be awarded CHIP funds this year.

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