Posted on September 24, 2020 by iwano@_84
Two families on relatively low incomes will win a lottery in New Britain next month that will let them buy their first homes.
The city is selling two houses on the East Side that it bought and extensively renovated, with each set to sell for tens of thousands of dollars below market rate.
New Britain isn’t looking to make money on the deal, though, city officials emphasized. Using federal funds, it periodically buys and rehabilitates homes and then sells them to first-time homebuyers who otherwise could not afford to own property.
“It’s a great boost for them. The people we sell to have never owned a home, so just doing this is a great self-esteem boost that they take pride in,” said Margaret Malinowski of the city’s economic development department.
Many communities around the country use lotteries to award low- or moderate-income apartment leases when demand is high,