New Homeownership in Blanchard Heights

In Fiscal Year 1994, with Thoma’s grant writing and administration assistance, the Village of Groton was awarded $400,000 in Community Development Block Grant funds to assist thirteen income eligible, first-time homebuyers in purchasing newly constructed homes in the development area known as Blanchard Heights. Under the Village’s program, homebuyers received between $10,000-$25,000 on a sliding scale for down payment and closing cost assistance, depending on need. A combination of Village, developer, and CDBG funds were used to assist in bringing water, sewer, electric, and the road into the development. Barden and Robeson of Homer was the developer. The site was deemed archaeologically sensitive, so the Village worked cooperatively with the State Historic Preservation Office in completing Phase 1A and 1B archaeological studies.

The Village of Groton owned the land upon which the homes were built. The Village also operates its own municipal electric company. These were important factors in making the homes affordable to the targeted population. The program is an excellent example of cooperation among the public and private sectors.

Programs such as these provide the dream of homeownership to households who have a difficult time in saving for a down payment. The municipality reaps the benefit of providing a variety of housing choices and expanding its tax base. Thoma was fortunate to assist the Village of Groton in this endeavor.