Crossville Chronicle, Crossville, TN

Area News

July 8, 2013

Funding helps program offer New Beginnings to families

With budget cuts looming, the Crossville Housing Authority feared that its New Beginnings Self-Help Housing Program would not continue for another month without additional funding. The staff is now breathing a sigh of relief after receiving news that it was named the recipient of a $503,200 grant from USDA Rural Development. The grant will help New Beginnings continue its mission and complete 19 new homes.

"In this economic environment when every public dollar is being scrutinized, we were very excited about the funding for our fourth self-help housing grant," said Marley Wyatt, New Beginnings program coordinator. "With these funds, New Beginnings will be able to continue its mission of providing working families the opportunity to realize the American dream of homeownership."

New Beginnings is designed to provide working individuals and families with low incomes with the opportunity to build their own homes. They are allowed to choose from a variety of lots and from a selection of three-bedroom, two-bath floor plans to meet their needs. An essential part of the program centers around the homeowners providing some of their own labor, which cuts down on construction costs and helps build up equity during the construction process.

To be eligible for the program, homeowners must meet income and credit requirements, have stable employment, not currently own a home and be willing to put in at least 500 hours of sweat equity into the home. Prior to construction, homeowners must also attend an eight to 10-hour homebuyer education course.

Since 2005, land in what is known today as the Southview and Eastview subdivisions has been purchased and developed by CHA specifically for the New Beginnings program. The Southview subdivision contains 29 homes, and Eastview will contain 56 homes upon completion.

The homes are financed with a 33-year fixed-rate mortgage. With a subsidized interest rate, rates can be as low as one percent for some borrowers. Large down payments are not required, and all closing costs are included in the loan amount. Payments can potentially be the same amount as current rent prices or even lower, depending on income.

According to Don Alexander, CHA executive director, most of the people taking part in the program are young families making an average of $23,374. Thanks to the program, these families can afford new homes, with an average mortgage payment of $502.76 (including principal, interest, taxes and insurance).

"We have provided, since 2005, 66 new homes, with the average loan of $113,327 with an average appraisal price of $143,270, putting $30,000 equity for every single person that is on this program," he said. "That has put $9.03 million [of property value] on the county tax roll, and total equity of homeownership is almost $2 million."

Jerry Jolley, area director for USDA Rural Development, one of the partner agencies involved with the program, thanked everyone for "making the self-housing program a flagship for everyone else to follow." He mentioned that more than 153,000 families across the nation were able to own homes last year thanks to self-help housing programs like New Beginnings.

"Seeing clients have a home of their own with an affordable mortgage is a great reward of my job," said Wyatt. "New Beginnings is a group effort. The hard work from all who are involved – from the office to the construction site – is what produces the amazing results.

“It is an honor and privilege for me to work with such wonderful people as USDA Rural Development, our clients, our construction crew and our sub-contractors," she concluded.

1
Text Only
Area News
  • Blood shortage looming

    The American Red Cross is facing a looming blood shortage, leading to an urgent need for donors of all blood types to roll up a sleeve and give.

    July 22, 2014

  • Judge ponders why stolen silver wasn't recovered

    A Crossville area man who entered into a sentencing agreement relating to the theft of silverware that was later sold to a local jewelry shop found himself with an unlikely ally — the judge.

    July 22, 2014

  • County OKs $89.7 million FY 2014-'15 budget

    Cumberland County's $89.7 million 2014-'15 fiscal year budget was approved during Monday evening's county commission meeting.

    July 22, 2014

  • Tennessee making strides in well-being of children

    Tennessee has made great strides in the health and well-being of children, the annual KIDS COUNT National Data Book found, rising to 36 this year. The state is among the five states with the biggest improvements in overall rankings from 2013 to 2014.

    July 22, 2014

  • 1899: Evidence points to poison in mysterious deaths

    The Nashville American reported that in January 1899, Squire Luke Stansbury, son of Rev. John Stansbury, discovered that Paris green and arsenic had been sprinkled over the hay they were feeding the cow. The evident intention was to poison the milk and, thus, poison the family. The hay was burned.

    July 22, 2014

  • Drug testing policy deferred until October

    With the start of the next school year only weeks away, the policy committee of the Cumberland County Board of Education decided to defer action on the extracurricular drug testing policy as implementation of changes would not occur before the 2015-’16 school year.

    July 21, 2014

  • camp nakanawa2.jpg Model recalls special rail service to Camp Nakanawa

    Camp Nakanawa, in the Mayland community of Cumberland County, dedicated a new, highly detailed diorama of the camp built over the past year by members of the Crossville Model Railroad Club.
    The large display is a very accurate scale model of the camp and includes a track where an HO model of the Tennessee Central Railroad delivers campers to their summer home.

    July 21, 2014 2 Photos

  • Souza vows to bring public comments back for vote

    While a few public comments have been made during the last several Crossville city council meetings, the fact that some think their free speech is threatened by recent council actions has lead to discussions and letters to the editor in protest.

    July 21, 2014

  • Panel considers building code options

    The Cumberland County Environmental Committee met last Thursday evening to further discuss the status of countywide building permits and its agreement with the city of Crossville, but no action was taken.

    July 21, 2014

  • Fields a possible buyer for TSUD

    Barry Field, owner of Field’s Engineering Consultant Services, LLC (FECS) has taken an interest in purchasing the highly contested waste water facility in Lake Tansi.

    July 21, 2014

Marketplace Marquee
Parade
Must Read
Section Teases
Seasonal Content
AP Video
Judge Ponders Overturning Colo. Gay Marriage Ban Airlines Halt Travel to Israel Amid Violence NYPD Chief Calls for 'use of Force' Retraining VA Nominee McDonald Goes Before Congress Bush: Don't Worry, Sugarland Isn't Breaking Up US Official: Most Migrant Children to Be Removed Police Probing Brooklyn Bridge Flag Switch CDC Head Concerned About a Post-antibiotic Era Raw: First Lady Says `Drink Up' More Water Courts Conflicted Over Healthcare Law Holder Urges Bipartisanship on Immigration Raw: Truck, Train Crash Leads to Fireball US Airlines Cancel Israel Flights Obama Signs Workforce Training Law Crash Victims' Remains Reach Ukraine-held City Diplomatic Push Intensifies to End War in Gaza Cat Fans Lap Up Feline Film Festival Michigan Plant's Goal: Flower and Die Veteran Creates Job During High Unemployment
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Weather Radar
2014 Readers' Choice
Graduation 2014