PORTAGE, MI (WKZO AM/FM) – The city of Portage is planning two informational sessions for people who are interested in buying a home in the Stanwood Crossings development.
Those will be held Thursday, November 20 at 5:30 p.m. and Friday, November 21 at noon at Portage City Hall. Each will last for an hour.
People are also welcome to walk through the first two completed homes off of Stanley, just east of Portage Road.
To buy one of the 42 new workforce housing homes, people need to be in the middle income range and earn between 80 and 120% of the Kalamazoo County Area Median Income.
Income limits in dollars from 80-120%:
1-Person Household: $53,680-80,520
2-Person Household: $61,360-92,040
3-Person Household: $69,040-103,500
4-Person Household: $76,640-114,960
5-Person Household: $82,800-124,200
To make the homes affordable to households in this income range, the infrastructure has been constructed with the assistance of federal ARPA grant funds, and a grant secured by Senator Peters.
In addition, Kalamazoo County allocated $3 million in Housing for All millage funds to reduce the home purchase price by 25% from the construction cost of each home. To ensure continued affordability for future purchasers of the homes, the land will be placed in the Portage Community Land Trust and home purchasers would enter a low cost, long-term lease of the underlying property parcel.
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