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![[Photo: Mrs. Smith and her children standing in front of their home.]](/local/la/images/hgv-picw-la-2003-04-22.jpg) |
| Melissa
Smith and her children |
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The
City of Shreveport's Homebuyers Assistance Program Participation
Initiative (HAPPI) is making many first time homebuyers very
happy. Designed to increase homeownership opportunities for
low to moderate income first time home buyers, the program provides
funds for down payment, mortgage buydown, and closing cost assistance
to individuals whose annual income is 80% or less of the area's
median income. In an effort to revitalize older inner city neighborhoods,
HAPPI provides greater assistance to homebuyers who purchase
properties in the City's sixteen target areas.
Melissa
Smith is one satisfied HAPPI client. She and her children,
Torian and Adrian, will soon celebrate their second anniversary
in their home. "I wanted a place for my kids to call home and have
a yard to play in. When I achieved the American Dream of homeownership,
I was just ecstatic," she said. "I don't think I slept at all the
first night in my home; I was just overwhelmed that I had my own
place."
The HAPPI program gave Ms. Smith the assistance she needed
to achieve homeownership. Like so many first time homebuyers, the
obstacle to homeownership for Ms. Smith was the funds needed for
the downpayment and closing costs. Without HAPPI, Ms. Smith
thinks she would still be renting and trying to save enough funds
for a downpayment. The City's Community Development Department funds
HAPPI by leveraging private monies with their HOME entitlement
allocation. Since its inception in February of 2000, HAPPI
has made the American Dream possible for approximately 500 new homeowners
in Shreveport. This is something we can all be happy about!
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