 Governor Beshear came to Mayfield last week to present $1,372,500 from the Neighborhood Stabilization Program to the Purchase Area Housing Corporation (PADC). The funds will be used to purchase foreclosed or abandoned properties, repair them and sell them. Families at 120% of area’s median income level will be eligible to purchase the homes. They will have to get funding from a lender who “agrees to comply with sound lending practices” according to a press release from the Governor’s Office. Home buyers will also receive eight hours of free housing counseling from the PADC office.
“The improvements that will result from the Purchase Area Housing Corporation’s project will benefit neighborhoods by returning vacant homes to productive use and providing new opportunities to deserving families for homeownership,” said Gov. Beshear. “Together, these activities will help stop the decline of property values and continue to support the area’s tax base and its ability to continue providing quality local services.”
The federal money means that homes that might become an eyesore in the area will be saved and jobs for skilled and unskilled repair people will be created. Over $115 million dollars in requests were received for the $37.4 million dollars that the state received for this program.
Accompanying the Governor to Mayfield to present the big check was Department for Local Government Commissioner Tony Wilder.
Above: Governor Beshear speaking at the PADD office in Mayfield
Below: Matt Mattingly, PADC Chair, Gov. Beshear, Commissioner Tony Wilder and PADD Mayor Chair Arthur Bryn.
Below: Wickliff Council member David Phelps, Larry Kelley, Mayor Herby Vance, Gov. Beshear., DLG Commissioner Tony Wilder and Ballard Co. Judge Vicie Viniard.
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