Community Development Block Grant
Mortgage Assistance and Home Repair Assistance programs are available to assist low-moderate income homeowners and first-time homebuyers in the City of Auburn.
Mortgage Assistance Program
- For first time homebuyers in the City of Auburn.
- Applicants must meet income guidelines, be pre-approved by a lending institution, and complete an approved homebuyer’s education course.
- Up to $3,000 maybe available to a homebuyer for down payment or closing cost assistance.
Home Repair Assistance Program
- Low interest (0% to 3%) loan available to qualified income eligible homeowners and investors. Loan term negotiable up to 25 years.
- Loan funds are used to address code violations, exterior improvements, emergency repairs and energy efficiency projects on the property.
- Cayuga County Homsite provides construction management for the program.
- Emergency Home Repair Assistance Program also available for emergency repairs up to $5,000. Must have exhausted all other resources.
Real Property Tax Exemption for Capital Improvements
- Section 421-f of the Real Property Tax Law authorizes a partial exemtion from real property taxation of the increases in assessed value attributable to reconstruction, alterations or improvements.
- Property must be a one or two family residence
- The greater portion of the residence must be at least 5 years old.
- The value of such reconstruction, alteration or improvement must exceed the sum of $3000.
- For more information go to Real Propery Tax Exemption for Capital Improvements to Residential Property