Vacaville dabbles in the housing market through home sale

By From page A11 | February 26, 2014

VACAVILLE — Vacaville will dabble at the Realtor game when it attempts to sell a vacant home previously owned by the city’s former Redevelopment Agency.

The 792-square-foot, two-bedroom, one-bath home on a 5,000-square-foot lot is for sale for $130,000 through a low-income, first-time home buyer program connected to the city’s Department of Housing Services.

The city created the lottery program and its guidelines in 2011 for this home in particular and in anticipation of another home possibly falling into the hands of the city’s now-defunct Redevelopment Agency. Gov. Jerry Brown disbanded the agencies in California and loose ends continue to be tied up through cities’ successor agencies.

One of the purposes of the Redevelopment Agencies was to provide affordable housing for low-income families.

This particular home – the location is not being revealed to the public, said Emily Cantu, the interim director of Housing Services – was originally privately owned. The then-owners took out a rehabilitation loan with the Redevelopment Agency in order to make home improvements, Cantu said.

The homeowners ran into financial issues around the mid-1990s and could not pay back the loan.

“The family determined they would deed the house to the (Redevelopment Agency) in lieu of paying back the loan,” Cantu said.

In 1996, the family let go of the home and the city rented out the home to a low-income household until 2010.

“The household moved out in 2010, and it has been vacant ever since,” Cantu said.

The city made some move to sell the home closer to when the renters moved out, but the disbanding of the redevelopment agencies waylaid the sale until now. Once the house is sold, the money is still bounded by its original use, so it must be used for affordable housing purposes.

Prospective homebuyers must attend a mandatory orientation meeting. Registration is required before March 17.

For more information on the home and qualification – family size must consist of  three or more people – contact Tamara Blake at 449-5630.

Reach Susan Winlow at 427-6955 or [email protected] Follow her on Twitter at www.twitter.com/swinlowdr.


Discussion | 3 comments

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  • The MisterFebruary 25, 2014 - 6:26 am

    What a goat rope. All the high-priced government salaries to rent and now sell a house! And yet they continue to hack away at the wages of the working City employees! What a racket!!

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  • Rudolph MadronichFebruary 25, 2014 - 8:26 am

    $130,000 for a 792 sq/ft home what is the city of Vacaville thinking. I think the house is over priced. I would like to know if they sell the house how much it sells for

    Reply | Report abusive comment
  • BFebruary 25, 2014 - 9:48 am

    Unfortunately, thanks to all of the investors, thats about right for a home this size.

    Reply | Report abusive comment
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