U.S. Department of Agriculture Rural Development (RD) Area Specialist Mary Hickman attended the Paris City Commission meeting to discuss final plans on a project that will help local residents have an opportunity to build a new home on empty city lots through USDA RD’s Single Family Housing Direct Home Loan program.
“Mary approached me with an idea to collaborate with USDA to offer vacant lots owned by the City to qualified individuals or families for new home construction. This would provide housing for applicants who might not otherwise be able to afford to build,” said Paris City Manager Kim Foster. “It’s a win/win for the City and we are excited to be working with USDA on this project.”
Hickman recently proposed the idea to the City of Paris and Paris Housing Corporation. The partnership is a way for the City of Paris to liquidate some of its empty city lots while building a stronger community and increasing the tax base. The lots will be offered to qualified USDA RD loan holders for $1 to $10.
A public meeting regarding this housing opportunity is scheduled to take place on December 17, 2015 at the Paris City Hall at 6 p.m. Everyone interested is encouraged to attend.
USDA RD’s Single Family Housing Direct program provides low-interest rate loans for low-income families and individuals. In partnership with the City and the Paris Housing Corporation, those who qualify for a Single Family Housing Direct loan may be able to find an affordable place to build a new home. Excited by the potential to help the community, they are considering the possibility of researching other agencies to bring into the partnership to enhance the program.
USDA Rural Development is moving investments to rural America with housing, business and infrastructure loans and grants to create jobs and strengthen rural economies with an emphasis to assist areas of persistent poverty. Since 2009, the agency has assisted more than 1.5 million Tennessee families and businesses in 230 communities in all 95 counties of Tennessee, investing more than $5.4 billion through affordable loans, loan guarantees, and grants.
For more information on USDA Rural Development programs available in Northwest Tennessee, contact the Union City Area Office at 731-885-6480 x 4, or 800-342-3149 x 1497. Visit us online at www.rd.usda.gov/TN.