The City of Port Huron is looking for help from local developers to rehabilitate homes they have acquired through tax foreclosures. Qualified developers can apply for the new Developer Partnership Program (DPP) from now until July 30, 2021.
Under the DPP, developers would be able to purchase up to six homes from the city, rehabilitate them, and then sell them for a profit.
Developers must agree to, and prove to the city, that they have invested in the neighborhood by investing at least 50% of the home’s final Approved Market Value on the purchase of the home and the remodeling costs.
According to James Freed, Port Huron City Manager, the DPP will help get these homes rehabilitated and on the market more quickly than the city could on its own.
“With the current housing shortage we wanted to get these homes, often times blighted, back to like-new condition and into the hands of residents who need them as quick as possible,” said Freed. “We are proud of this new and innovative public-private partnership and believe it will serve our neighborhoods well.”
Developers interested in the Developer Partnership Program can contact the Community Development Program Administrator for the City of Port Huron, Katie Posey at (810) 984-9736 or download the application at https://www.porthuron.org/business/pending_bids.php
Reporting for WGRT – Jessie Wiegand
