Commerce – The Commerce City Council took another step towards housing development in regular session Tuesday. Anthony L. Francois, an A&M-Commerce alum, previously suggested using vacant lots owned by the city to build new homes for moderate to low income families. The addition would be very similar to the Enlow Addition in Commerce, which means potential buyers may be eligible for help, according to Francois.
FRANCOIS: myself doing what they call the project NMI as the contractor where I'm entitled to give up to 3% to 4% down payment on behalf of the customer. With that plus another grant Commerce is involved in, people stand the chance of being able to move in with about $15,000 equity right off the bat.
The Commerce City Council unanimously approved the proposal. Finished homes will likely range from $66,000 to around $90,000.