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St. Louis, MO Real Estate Tax Assistance Fund protects low-income residents at risk for foreclosures
St. Louis, MO Real Estate Tax Assistance Fund Foreclosure
Voltooid
City officials sought a method for preventing foreclosures that destabilize households and neighborhoods. The city's Collector of Revenue and Park Central Development provide grants of up to $3,500 for applicants in the final stages of foreclosure. Eligible households earn less than the area median income, paid off their mortgages, and live full-time on property. The RETAF program is funded by federal ARPA money and donations with limited spaces each year.
Project geslaagd
RETAF funds protected 130 residents in 68 homes from tax foreclosure in 2022. The city won a 2022 Outstanding Local Government Achievement Award from the East-West Gateway Council of Governments.
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