Wilmington Housing Authority's Homeownership Incubator Program Is Located in Rental Community

摘要

As part of its Family Self-Sufficiency (FSS) program, the Wilmington, N.C., Housing Authority (WHA) provides Section 8 vouchers to households who live in 40 rental apartments set aside at the Village of Greenfield for a homeownership incubator program for families with incomes at or below 60 percent of the area median. Greenfield was developed as a low-income housing tax credit project through a combination of tax-exempt bonds and 4 percent tax credits as part of a HOPE VI development. Once a family moves into a homeownership incubator unit, it has access to supportive services and can use its FSS escrow to purchase a home or move to market-rate rental housing. A family occupies an incubator unit from two to a maximum of five years, although an extension of up to two years can be granted.