News from the desk of Eric Schertzing, Ingham County Treasurer

 

 
We have 27 amazing opportunities for lower income households to own a home.  One of our funding sources limits the income of buyers.  The 27 renovated or new homes in Lansing are for folks at 50% of the Area Median Income or below.  By example this is a family of 4 earning $33,000 or less.  A 2 bedroom 1 bath, like new, bungalow on Comfort Street would have a total monthly payment as low as $435 (mortgage, property tax and insurance).  To help prepare individuals for ownership we have set up a Home Buyer’s Club with the Center for Financial Health. Reach them at 517.708.2550 or www.centerforfinancialhealth.org.
 
To engage residents on the East Side of Lansing in the future potential for a 2013 Tax foreclosure we created a “Wishing Wall”.  Great project!
 
Check out this story on WILX.  Land Bank Wishing Wall WILX-TV
 
Money Smart Week is April 5th thru 12th , 2014.  The Federal Reserve in Chicago provides the framework and we work with local government and non-profits to create the useful classes.  Let me know if you see a way to help.  We do have some staff assistance to help coordinate activities.  Check out www.moneysmartweek.org.
 
he tax auctions were a great success this year.  We drew in better buyers that paid almost twice as much on average as in 2012.  This should be further proof of market strength.
 
Yesterday I closed on the 51st Land Bank home sale of the year in Lansing!  Many more scheduled, so this will be a record setting year.
 
And yesterday was also the ground breaking for a multi-million dollar mixed use development by Gillespie Group where the Silver Dollar Saloon once stood on Michigan Avenue. Check out the story at LSJ.com or TV6 at http://www.wlns.com/story/23841217/new-multi-use-building-breaks-ground-in-midtown.  Thanks to Mayor Bernero for his attendance and kind remarks.  And thanks to PNC bank for another high quality branch investment in our community.
 

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