Sunday, Feb 20 2011 7:18PM
Low income families in California's Tuolumne county can apply for a first time homebuyers credit.
California's Tuolumne County has been given an $800,000 grant to help low-income families in the rural area purchase their first home.
Supported by the federal HOME Investment Partnerships Program, which awards funds to state and local governments toward affordable housing for low-income households, officials said Tuolumne County is one of the few in the state that received a grant. County Housing Program Coordinator Sheila Shanahan told myMotherLode.com the money will not only provide housing assistance, but will also stimulate the local economy by creating new jobs for the real estate community and local businesses.
"I'm delighted that we're able to offer the program," said Shanahan. "Everybody knows that there are very limited resources right now. To offer this in our county, I think we're really blessed."
According to U.S. Department for Housing and Urban Development, the agency provides funding directly to the California Department of Housing and Community Development, which disperses it to both urban and rural communities. Grants can be used for homeowners and rental housing development as well as housing rehabilitation, although by federal law, 15 percent of funding must be set aside for community housing development organizations.