Maybe you watch a lot of “This Old House” and dream of your first big renovation project, or perhaps you have been around the home restoration block a few times already, either way the city of Knoxville is here to lend a helping hand.
Take a quick look through any website that allows you to search for available homes in Knoxville and you will find a number of homes that are either blighted or condemned. The question becomes, are they worth saving? And even if they are worth saving, can it be done cost effectively? The city of Knoxville seems to think the answer is a resounding “YES”!
In multiple articles, ranging back to 2010, KnoxNews.com discusses the efforts made by multiple parties regarding the issue of blight in Knoxville. Many of the neighborhoods particularly effected are part of historic zoning/overlays, which make restoring them particularly important in retaining the culture and history of our city. Several years ago, Mayor Rogero was instrumental in launching the cities Blighted Property Program. The program is designed to allow owners to renovate these homes and help restore neighborhoods.
The Blighted Property Redevelopment Program (BPRP) provides short-term development & construction financing through subsidized loans for the purpose of redeveloping and renovating unoccupied residential dwelling units, or constructing new dwelling units on vacant properties,for sale, rent or owner occupation…..Loans must be repaid upon completion of the development, when the property is sold, or when the owner obtains permanent financing. When necessary, a portion of the financing may need to be in the form of a grant to make a project affordable, cover lead-based paint remediation and/or make the project financially feasible.
For the full description and requirements of the program, please fill out your name and email below, to instantly download a copy of the program. (I do NOT spam).
I will be honest, the process is not simple, but it is definitely worth the effort. Not only can you get the project off the ground with financial assistance, you can be a part of maintaining the history of our city by improving a property, and help someone enjoy living in a brand new old home. So go ahead, make like Bob Vila and help an old house become new again!
[contact-form-7 id="2830" "Knoxville Blighted Property Redevelopment Program"]
Post by Shannon Foster-Boline