The acquisition rehab resale property is one of six such properties being developed under a 2013 Development Agreement with REBOUND, Inc, a developer and Metro certified CHDO (Community Housing Development Organization).

The acquisition rehab resale property is one of six such properties being developed under a 2013 Development Agreement with REBOUND, Inc, a developer and Metro certified CHDO (Community Housing Development Organization).

The Office of Housing and Community Development provided REBOUND with a forgivable loan for construction and gap financing to complete the work.  Direct homebuyer assistance was also provided to the homebuyer in the form of a soft second forgivable loan.  Under the agreement, REBOUND is acquiring and rehabbing six properties in the Shawnee Neighborhood, and then marketing and selling to qualified low to moderate income families (80% or below Area Median Income).  A lease-purchase arrangement can be pursued if the perspective owner is not yet homebuyer ready.

Source: | LouisvilleKy.gov