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On July 8th, 2008, the City Commision approved up to $20,000 per project for qualified applicants. This a major incentive package for people interested in investing in the Fountain Avenue neighborhood. Major components of the package include:
- City owned lots and structures can be purchased from Urban Renewal for as little as one dollar.
- 10%-15% of the permitted value of single family projects, either a rehabilitated structure or a new construction, will be awarded to homeowners/homebuyers in the form of a non-performing 2nd mortgage.
- Up to $20,000 per project will be available for a limited time.
More News
Three new houses in Fountain Avenue are currently under construction at 412 Fountain Avenue, 1615 Madison Street, and 1640 Harrison Street. One house is situated directly on the circle and two are located just off of the circle. All three homes are being constructed by Mindspring Development, LLC. and range between 1,400 and 1,600 square feet. For more information contact Pat Johnson or David Hutcheson at (270) 210-7291 or www.mindspringdevelop.com.
412 Fountain Avenue
1615 Madison Street
1640 Harrison Street
This is the first city-owned property transferred to a new owner. The project is now complete! Hover over the image to see the property as is looks now.
WKCTCS partners with city to build a new single-family home at 1334 Madison Street. Construction is currently under way!
