Breaking News
More () »

Louisville mayor announces affordable housing initiatives

The initiatives include a new program that would help homeowners in some neighborhoods offset mortgage or interest.

LOUISVILLE, Ky. — Mayor Greg Fischer announced new initiatives to increase access to affordable housing Wednesday, including a program to provide funds for residents in some Louisville neighborhoods.

The new Louisville Metro Housing Authority program will give money to income-eligible residents in the Park DuValle, Phoenix Hill, Smoketown and Russell neighborhoods who have become homeowners through LMHA's revitalization efforts. The money can be used to offset mortgages, interest, property tax or utility bills.

"By breaking down barriers to homeownership and offering resources to keep others staying their homes, we promote long-term housing stability and wealth-building for our residents," Fischer said.

LMHA's program is part of the U.S. Department of Housing and Urban Development’s Moving to Work initiative that allows public housing authorities to use federal dollars on local efforts to increase housing choices for low-income families.

Fischer said Louisville Metro has also dedicated more than $7 million toward its Office of Housing's Down Payment Assistance and Home Repair programs to help income-qualified residents purchase homes, or make repairs on their properties.

Through the Down Payment Assistance Program, residents can receive up to 20% of the purchase price to help them buy homes in neighborhoods throughout the city.

Homeowners can access money to cover electrical, plumbing, roofing and HVAC work through the Home Repairs program. Louisville Metro also offers Home Repair programs specifically for residents of west Louisville to make emergency repairs.

The Exterior Code Alleviation Program is also designed to help low, moderate and middle-income homeowners in eliminating exterior code violations and fixing minor essential exterior repairs like painting, siding, roof replacements or foundation work.

The Office of Housing is currently accepting applications for its Home Repair, Down Payment Assistance and Exterior Code Alleviation programs. Those interested can apply here.

The city also made its Property Assessment and Reassessment Moratorium Program more accessible to homeowners in west Louisville, Smoketown and Shelby Park by lowering the amount homeowners in those neighborhoods need to invest in home repairs and upgrades in order to qualify and waiving the $40 administrative fee for low-income residents. Those interested can apply here.

On Tuesday, the city also announced it has issued a request for proposals on developing a Community Land Trust that would help create permanently affordable housing opportunities.

RELATED: Metro Council committee to start identifying land use inequalities between East and West Louisville

RELATED: Mayor Fischer announces free Wi-Fi expansion in Russell neighborhood

►Make it easy to keep up-to-date with more stories like this. Download the WHAS11 News app now. For Apple or Android users.

Have a news tip? Email assign@whas11.com, visit our Facebook page or Twitter feed.

Before You Leave, Check This Out