On June 7th, Mayor Charles Washington signed the Neighborhood Transition Initiative, in front of council members and local dignitaries. The NTI is a joint project between the City of Salem, various lending institutions, and the United States Department of Agriculture's Rural Homeownership programs.
Under the NTI, qualifying citizens will be able to purchase city-owned properties and benefit from minimal- or no-money down, low interest loans for extended time periods, as well as helpful financial counseling and other home ownership assistance.
Here is the story as reported by SNJToday, with video.
Here is a list of city-owned properties that will be part of the program Please note that this may not be an exhaustive list, and that full program details are still to be determined by the USDA and the city.
More details will be posted soon, or you can call the Salem Commerce Department for more information, at 935-0372 extension 215.