Community Development assists two families with home ownership

The City of Jacksonville Community Development will host two ribbon cuttings Monday at 10 a.m. and noon at 305 South Shore Drive and 460 College Street respectively as part of its program to promote homeownership.

Community Development provided assistance with down payments, closing costs and facilitated subordinated mortgages which reduced the amount of the first mortgage to make homeownership affordable for two Jacksonville families.

The city leveraged down payment assistance funds in the amount of $47,500 from North Carolina Housing Finance Agency, and bank financing from Atlantic Bay Mortgage and Bank of America to help these families purchase their homes.

Affordable Housing was constructed through a partnership with Coastal Carolina Community College and First Call Residential Contractors.

Mayor Sammy Phillips will be the speaker and ribbon cutter.