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City buys house for $1

will renovate, resell

July 25, 2000

City buys house for $1; will renovate, resell



By DAN KULIN / Staff Writer


Hagerstown's mayor and representatives from the U.S. Department of Housing and Urban Development symbolically finalized the sale of the first HUD $1 home in Maryland on Tuesday.

Mayor Robert E. Bruchey II handed HUD State Coordinator Harold D. Young an oversized novelty check for $1 in return for the keys to 133 E. Antietam St.

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The city bought the house, a two-story half of a duplex, under HUD's Good Neighbor Program. The city plans to renovate and resell the home under Hagerstown's Single Family Homeownership Program.

Under HUD's Good Neighbor Program, HUD-owned homes that have been on the market for at least six months are offered to local governments for a nominal fee of $1. HUD takes ownership of the properties when homeowners with federally insured mortgages default on their loans.

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The Good Neighbor Program began nationwide in May, and the City Council approved the purchase of the Antietam Street home on May 9.

Young, who is in HUD's Baltimore office, said one reason the program was launched was because local governments and community groups were complaining that HUD-owned properties were remaining vacant for too long.

Young said Hagerstown was able to quickly acquire one of the $1 homes because of the city's homeownership program.

"They knew what to do," Young said.

The City Council has already approved the purchase of a second HUD $1 home at 44 N. Locust St., and city staff members are looking into a third HUD home at 225 S. Locust St.

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