In an effort to expand its partnership with local governments in helping to foster housing opportunities for low to moderate income families and address specific community needs, HUD has introduced the Good Neighbor Program. This program facilitates the sale of aged HUD inventory of single family homes to local governments for ONE DOLLAR ($1.00).
Properties that have been offered to the public for sale for six or more months and that are not under a sales contract will be removed from the market and offered exclusively to local governments for a period of ten days for the price of one dollar ($1.00). The property must have been available to the public for a total of six months (180 days).
Butler County Community Development purchases these properties, and then transfers ownership over to a Community Housing Development Organization (CHDO). The property is rehabilitated, and then sold to a low to moderate income familiy, many times at below market value. The funds profited from the sale of the property goes directly into other HOME eligible activities.
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