I don't see anyone in Metro Nashville making these kinds of plans. We would rather subsidize our mildly supported hockey team. And, God knows, the first thing a family whose adjustable rate mortgage has just rocketed skyward wants to do is to catch a Predators' match.
Here are the details that we seem to be missing:
Fairfax is plunging deeper into the issue by agreeing to spend more than $10 million in tax revenue toward the purchase of as many as 200 foreclosed houses. The county will purchase 10 houses outright; the rest will be purchased by qualifying buyers with the help of government-backed, low-interest loans. Buyers will be eligible for subsidized mortgages as well as low-interest second trusts up to $70,000. Most of the assistance will be directed to first-time buyers earning as much as $75,600, or 80 percent of the area's median income. Most purchases will be limited to $385,000 and exclude condominiums. All of the money in the first year would come from existing housing programs.