Home in Five Celebrates 25,000 Milestone
Home in Five Advantage recently hit a big milestone by providing down payment and closing cost assistance to 25,000 Arizona residents. Launched in 2012 via a partnership between the Phoenix IDA and the Maricopa IDA, the program helps low- and moderate-income individuals and families purchase a home in Maricopa county.
Qualified homebuyers receive up to 5% assistance for down payment and closing costs, plus a loan with a competitive interest rate. With interest rates coming down, more homebuyers are taking advantage of the Home in Five programs.
Home in Five Platinum, a program launched late last year, is a new, tax-exempt, bond-financed program offering below-market interest rates and down payment assistance. Those interested in learning more can review a detailed comparison chart between the Home in Five Advantage and Platinum programs. For more information, please visit the Home in Five Advantage website.
Mobile Home Park Assistance Project Supports 400 Residents
In late 2022, the Phoenix IDA and PCDIC established a Mobile Home Park Emergency Relief Fund with the goal of assisting residents of Las Casitas and Weldon Court mobile home parks in Phoenix who were facing imminent relocation due to park closures. Some residents of Periwinkle mobile home park were also added at a later date.
Through support provided by the fund and other sources, 129 households have been relocated and are now stabilized; only one remains pending. All households, representing nearly 400 residents, received housing navigation, case management, rental/utility assistance and resource referrals.
“Initially I was in shock and very afraid… I’m on a very limited income… I never thought I would have to leave my trailer.”
-Lisa, 16-year resident of Weldon Court who was successfully relocated into new housing
Thompson Completes Two Terms on Board
The Phoenix IDA extends its gratitude to Barbara Ryan Thompson, executive vice president and chief operating officer of the Helios Education Foundation, for her nine years of service to our board of directors.
“The Phoenix IDA has played a crucial role in offering public finance solutions such as bonds, investments and loans to support projects aimed at enhancing the well-being and sustainability of underserved communities. These initiatives have primarily focused on areas like housing, healthcare, education, and community and economic development. Since 2009, the Phoenix IDA has successfully closed over $3.3 billion in bond transactions, significantly benefiting communities across Phoenix. The city of Phoenix is fortunate to have an organization dedicated to such impactful work within our communities. I extend my best wishes for the continued success of the Phoenix IDA.”
-Barbara Ryan Thompson, Helios Education Foundation
The Phoenix IDA Board of Directors is scheduled to meet at 3 p.m. Thursday, Feb. 15, 2024.
