HUD Joins Faith-Based Group For Home Renovation Project

Tthe Department ofHousing and Urban Development announced that it will sell about 300 homes in fiveZIP codes to the Church Association for Community Service (CACS) atdiscounts up to 50 percent. CACS will rehabilitate the homes and sell themto families, in many cases at below-market prices. So far, HUD has sold 24homes to CACS and has chosen another 124 to be sold. After it renovates theproperties, CACS will market and sell them to eligible homebuyers throughits network of more than 60 churches around the District of Columbia. HUDestimates that the appraised value of the homes involved in the agreementexceeds $14 million.