After running out of money earlier this year to assist homebuyers, Baltimore’s Vacants to Value Booster Program is back.
The Baltimore City housing department announced this week on Facebook and Twitter that it is once again accepting applications for the popular incentive program, which provides $10,000 to eligible homeowners to assist with closing costs.
The city stopped taking applications last month, just six weeks after the start of the city’s 2017 fiscal year, when it ran out of the $300,000 allocated for the year, enough for 30 cases. It was the first time the program was curtailed because it reached its funding limit.
“Mayor Rawlings-Blake is pleased to announce that as of September 21, 2016, additional funds have been made available to support the Baltimore Homeownership Incentive Program (B-HIP), including the Vacants to Value Booster Program,” the message said.
“We are now accepting applications from buyers purchasing a home that qualifies for the Vacants to ValueBooster incentive program. For more information, and to submit your application, contact Michael Guye, Director of Homeownership, at 410-396-3124 or Michael.Guye@baltimorecity.gov.
The housing department also has been promoting a free workshop entitled “Tax Incentives for Homebuyers and Developers.” It will be held on October 12 from 6 p.m. to 7 p.m. at the Forest Park Branch of the Enoch Pratt Free Library, 3023 Garrison Boulevard.