Story last updated at 3/10/2010 - 11:52 am
JUNEAU - Due to overwhelming response, Housing First, Inc's HOME Opportunity Program (HOP) application period has closed as of March 1, 2010. This is an early closing, as available loan funds were provided to eligible applicants quicker than expected.
A total of $215,615 was allocated for Southeast Alaska by Alaska Housing Finance Corporation in November 2009. Housing First was the only agency in Southeast awarded the grant program, receiving the full amount.
The maximum loan each HOP applicant may receive is $30,000, which limits the full funding stream to 7-10 homebuyer families potentially being served. Housing First has already provided four homebuyer households with these funds and have promised funding to three more. If more funding becomes available, public notice will be given that the application period has reopened.
Housing First, Inc. expressed regrets on the limitations of the federally funded program. HOP is funded through Alaska Housing Finance Corporation's HOME Department, allocating federal HOME funding.
