“We made good substantial improvements,” Dreher said, adding that they’re not ashamed of the rehabilitation costs. He said HUD approved the plans and city officials knew they’d lose money in the project.
The East Main Street home rehabilitation kept a house off the city’s demolition list. The vacant lot next door is due to a demolition.
“We’re just really happy about it,” Dreher said.
The city helped a family get into a nice, clean and decent house. However, Dreher doesn’t foresee the city taking on another purchase and rehab project again in the near future.
“It was a different kind of real estate market,” Dreher said of the process starting in 2008-2009. More changes came in the depressed market and with employment and income.
“I think it’s a sound principle to pursue,” he added.
Mayor Scott Eisenhauer said the biggest obstacle with the house was a family’s ability to get financing.
Ward 7 Alderman Bill Black said Habitat for Humanity of Danville helps put people in homes without going through financing.
The proceeds from the house sale will replenish the city’s housing loan fund.
“We make a loan at no interest for desperately needed home repairs,” Dreher said. A furnace could go out and the livability of a house is threatened, he said of a loan example.