This program aims to construct 100 new houses in the City of Jackson over the next 3 years, utilizing vacant City residential lots. All homes will be sold to qualified buyers earning between 60-80% of the Area Median Income (as defined by the U.S. Department of Housing and Urban Development, HUD), and must be owner-occupied. Acknowledging the need to keep these homes affordable, the City of Jackson will provide $25,000 down-payment assistance per home (up to 100 Homes). This program requires the partnership of several uniquely positioned groups, including builders, financial institutions, non-profit partners, and homebuyers. Builders were work directly with the City of Jackson to construct affordable, top-quality homes at a set price. Non-profit partners will create a pool of pre-qualified buyers and will organize layered financial supports. Financial institutions will provide mortgage products aimed at helping qualified buyers be successful homeowners. The City of Jackson will serve as program facilitator, overseeing all partner activities and maintaining compliance with all federal rules/regulations. Funds for this program are part of the City of Jackson’s American Rescue Plan Act (ARPA) dollars, and must be expended by December 31, 2026. Homeownership stabilizes families, builds neighborhoods, strengthens communities, and provides the opportunity for generational wealth. The City of Jackson is excited to offer this one-of-a-kind program as we all work to build a better Jackson for generations to come.
