A popular homebuyers incentive program quickly ran out of money to assist applicants this year because it began the fiscal year with sharply less money than in previous years, according to statistics provided by the Baltimore City housing department.
The housing department announced this month that it would stop taking applications for the Vacants to Value Booster Program because it reached its funding limit less than two months into the 2017 fiscal year. According to city officials, it was the first time the housing department had to stop taking applications for the Booster Program.
The Booster Program provides incentives of $10,000 to help potential buyers purchase vacant city-owned properties offered through the Vacants to Value homeownership program. The city’s 2017 fiscal year began on July 1.
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