Stimulus cash goes to city housing plan

DAYTON, Ohio (WDTN) - A new program designed to offer help to home buyers will also reduce the number of vacant houses across Dayton.

Those are the ones targeted by this new $2.1 million program that's using federal funds from the second stimulus.

The program will help those buying vacant or foreclosed homes make a down payment. They can also get some money to do basic repairs to things like the roof or the windows.

But officials said what really stands out about the program is that up to 14 percent of the loan will be guaranteed by the city.

Officials say this will allow more people to get the loans and start getting those empty homes off the market.

"It's going to take a little bit to climb back out and stabilize our market, but we think with programs such as this, we can take some pretty great strides forward," said Aaron Sorrell, Dayton's neighborhood development manager.

At this time, Wright-Patt Credit Union is the only lender involved, but others may be added in the future.

The program is expected to fill about 75 to 100 homes.