Your Preview of the Fall Discovery Newsletter

SUISUN CITY - While the paper copies of the Fall issue of Discovery newsletter make their way to every postal patron in town, those of you who follow us electronically get the sneak peak.

Here are the headlines, with links to individual articles:

• The Salvation Army reveals its $12 million community center vision
• Proposed Wal-Mart Center has cleared all legal hurdles two years after getting unanimous City Council approval
• Suisun City is using federal grants to stabilize local neighborhoods and create new home ownership opportunities for families
• A $685,000 grant will help improve the Suisun City Senior Center
• Suisun City Police and Fire Departments reach out to help families this holiday season, and you can help
• All the Christmas at the Waterfront festivities, which are bigger and better than ever! (Including Snow Day!)
  
• Keep F.O.G. out of your sewer pipes this holiday season
• Mark your calendar for the Dec. 14 General Plan workshop

You can also flip through an electronic version of the entire newsletter by clicking here.

We hope you enjoy the update, and have a very safe and happy holiday season!

Find us on Facebook at Facebook.com/Suisun City or on Twitter at Twitter.com/SuisunCity

Suisun City is Still Helping First-Time Homebuyers

Program Extends Beyond Tax Credits to Target Foreclosed Homes

SUISUN CITY - Federal homebuyer tax credits may have expired, but Suisun City is still in the business of helping first-time homebuyers get into a house of their dreams.

Qualified buyers can get down-payment assistance of up to 25 percent of a home’s value through the Suisun City Redevelopment Agency’s First-Time Homebuyer Program. The program targets foreclosed and short-sale homes to return them to individual and family ownership so they are neighborhood assets.

The program was designed to support existing Suisun City neighborhoods to ensure the long-term quality, value and availability of a variety of housing options.

“The federal government may have done all it could to reinvigorate the housing market, but Suisun City isn’t done yet,” said Project Manager Vivien Chua Togonon. “Despite State raids on our redevelopment funds, we are committed to reinvesting in our neighborhoods to make Suisun City the region’s best community for families.”

The Redevelopment Agency has streamlined the program to make it easy to understand and navigate.

Qualified buyers can get a loan in the form of a second mortgage on which the homeowner makes no monthly payments. Upon future sale of the property, the Agency recovers the principal it invested and shares in a pro-rata portion of any equity appreciation in the home.

Approved First-Time Homebuyer Program participants also get first chance to make an offer on properties acquired and completely renovated through the Neighborhood Stabilization Program. These homes may qualify for down-payment assistance of up to 35% of the property’s value.

Households that qualify for the First-Time Homebuyer Program are also qualified to participate in the Neighborhood Reinvestment Program, which provides up to $2,500 in a matching grant to help homeowners with exterior improvements.

The Suisun City Redevelopment Agency launched the First-Time Homebuyer Program in January 2009, committing $3.4 million. Since then, the program’s staff has fielded 278 inquiries, qualified 30 homebuyers with 60 days purchase a home, and closed 22 escrows with the help of a Suisun City down-payment loan.

For more information, go online to www.suisun.com, call 707-421-7309 or e-mail homebuyer@suisun.com.

First-time Homebuyer Program

The Suisun City Redevelopment Agency has launched its First-time Homebuyer Program to help bolster the quality of Suisun City's neighborhoods while providing affordable home-ownership opportunities.

Here are the basics:

• Loans are available to purchase newly renovated foreclosed homes. (The list is available from the RDA.)
• Down payment assistance of up to 25% of the home's purchase price, including closing costs.
• 3% min. homebuyer down payment.
• Income qualification required >>Click here to see the chart>>

Click here for more information on the program and the Neighborhood Reinvestment Program