The Dallas City Council on Wednesday approved dedicating $1 million to create a new anti-displacement homebuyer assistance program. Eligible participants must...
Anti-displacement homebuyer initiative to give up to $50,000 to longtime residents seeking a new homeEverton Bailey Jr.Dallas plans to start giving up to $50,000 in forgivable loans to longtime residents who are being or have been pushed because of rising costs due to gentrification.
That annual income would range from $34,100 for an individual and $48,700 for a family of four at 50% AMI to $81,800 a year for one person and $116,900 for a household of four at 120% AMI. The program, which is being added to the city’s existing homebuyer assistance programs, is initially set to give out at least 20 loans.
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