SPRINGFIELD, Mo. (KSMU) —
The nonprofit, which started its first programs last year, aims to increase homeownership and property values in Springfield’s historic neighborhoods.
With about $1.8 million from the city and $1.92 million from area financial institutions, Restore SGF is offering a few programs.
The "Restore My Block" program, which opened in October of last year, matches funds for curb appeal improvements on the condition that 10 neighbors all make those improvements together. In the first round, Restore SGF selected 40 homes for the program, totaling about $200,000 in homeowner capital invested, according to Restore SGF executive director Brendan Griesemer.
In February of this year, the organization started a down payment assistance program, funded by nearly half a million dollars in American Rescue Plan Act funds from the city. It has provided grants of $9,000 to new homeowners in the Doling Park East, Fassnight, Grant Beach, Meador Park East and Woodland Heights neighborhoods. Just over 3/4 of those home purchases were previously rental properties.
"With the help of this grant, I was able to significantly lower my own contribution to the closing cost of the home and still have a 10% equity in my property,"
said Mallory Maggi, a recipient of one of the grants who spoke at the meeting.
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