Real Estate is typically acquired two ways:

1. We tax acquire it
2. Our Business & Community Development Division purchases a foreclosure*

How the City acquires the real estate determines the process used to purchase it. Tax acquired properties are sold by the city or by a real estate professional contracted by the city. Community Development Real Estate is property that undergoes repairs prior to being offered for sale. Energy efficiency is an important part of the rehab, as is upgrading major systems like roofs and heating. General appearance improvements include painting, replacing countertops, and floor covering. The City is prepared to sell these properties to low and moderate income families. A financing package is developed to make the home affordable by combining Bank and City financing.