NCRPC/Wilson State Bank has completed a $20,000 project that assisted buyers in purchasing homes in Wilson, KS. The program was made possible through a FHLBank’s Joint Opportunities for Building Success (JOBS) Program award of $25,000 to the bank on behalf of North Central Kansas Community Network, Co. (NCKCN). NCRPC Business Finance Director Debra Peters prepared the application; however, the funding source is no longer available. The remaining $5,000 of the project award was granted to local restaurants to install grease traps to comply with new city requirements and to create a new housing brochure available at City Hall.
Homebuyers applied for project funds through the Wilson Housing Down Payment Assistance 0% Loan/Grant Program available exclusively from the Wilson State Bank at its Wilson location.
Project funds were used to assist in the purchase of four homes in Wilson totaling $233,600, with $20,000 coming from the FHLBank JOBS Program.
The recently completed housing project resulted in a leverage of $11.68 of local funds for each $1 of program funds and employment impact of four jobs within the City of Wilson. Geneva Myers and Irv Mitchell of Wilson State Bank facilitated the program locally.
The program was developed and administered by Peters/NCRPC and its 501(c)3 affiliate, NCKCN. Recaptured funds will become a part of the NCKCN-Four Rivers Down Payment Assistance Loan Program that is available to businesses located in Wilson, Ellsworth County, and the remaining 11-county NCRPC service area in North Central Kansas.
For more information about this or other NCRPC business finance programs, contact Debra Peters at dpeters@nckcn.com.
This article appeared in the September 2018 NCRPC Newsletter.
