MAYOR WHITE ATTENDS RIBBON CUTTING CEREMONY CELEBRATING THE COMPLETION OF THE FIRST NEW HOMES DEDICATED TO THE ACORN HOMEOWNERSHIP PROGRAM
March 26, 2007 - Mayor Bill White, Henry Hadnot, ACORN Housing (Houston Chapter), Majestic Homebuilders, JP Morgan Chase Bank, World Savings Bank, Raza Development Fund & Stewart Title & Trust Company joined in for a Ribbon Cutting, Monday, March 26th at 9621 North Mesa Road (near Tidwell Road). Council Member Jarvis Johnson presented keys to the first Homebuyer, Ms. Tolbert. The $10 million dollar development consists of 89 homes located on 5,000 square feet lots. The subdivision homes are full sized three and four bedroom, two bath homes on full size lots. The home sizes are 1,234 - 1,905 square feet with sales prices ranging between $105,000 - $119,000 prior to down payment assistance. The city's Developer Participation subsidies for sewer construction reduced development cost. HAP section involvement: The City of Houston Housing and Community Development Department is providing down payment and closing cost assistance to eligible applicants residing in Houston's city limits, ranging from $10,000 to $19,500 (www.houstonhousing.org). The applicant must be low to moderate families with gross annual income that does not exceed 80% of the City median income adjusted for family size.
