Community Development Block Grant
Kokomo, IN - Mayor James Trobaugh
City of Kokomo/AZUSA Partnership
Through a partnership between the City of Kokomo and the AZUSA Community Housing Development Corporation, assistance has been provided to 81 new homeowners whose average income was 42 percent of the median for the City. The partnership began in 1995 when the City recognized an opportunity to work with AZUSA toward achieving its affordable housing goals. AZUSA is committed to helping residents reclaim pride and appreciation in their neighborhoods through homeownership and other empowerment programs such as UP HOME (Understanding the Process of Home Ownership Made Easier).
With assistance provided through specialized programs such as UP HOME, AZUSA's efforts in pre-purchase and post-purchase counseling are seen as largely responsible for the success achieved by the 81 new homeowners, 16 of whom received some form of down payment assistance from federal and State sources. The remaining 65 were able to obtain their own private mortgages after going through pre-purchase counseling. For its 1996 home buyer assistance program, for example, AZUSA received $86,870 in HOME funds through the Indiana Housing Finance Authority, $54,000 in Federal Home Loan Bank funds, $21,000 from a local bank and $21,000 in private contributions from local foundations, businesses and individuals. The private contributions were used to match the Federal Home Loan Bank funds, and the HOME funds were used for down payment assistance and pre-purchase counseling. AZUSA has also developed a close partnership with the Kokomo Housing Authority, which is referring clients who are potential home buyers.
Two of the homes were new construction projects located on AZUSA's new Madison Estates where local and CDBG funds were used to provide the necessary infrastructure. The East Madison Street Redevelopment project received $302,800 in CDBG funds for construction of a new street and sidewalk and associated design and engineering costs. Local public funds of $91,500 were used for other infrastructure needs, such as sewer construction and reconstruction.
Contact: Greg Aaron, Director, Department of Development, (765) 456-7375
The United States Conference of Mayors
J. Thomas Cochran, Executive Director
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