Over the last few decades Xenia has experienced an increase in the percentage of its available housing being utilized as rental homes. The number of neglected homes that have become unsalvageable has also increased. As trends continue in those directions, the City is striving to change the dynamic by acquiring certain abandoned homes and/or vacant properties that may still be salvaged.
HOW IT WORKS
Once acquired, the City will sell these properties directly to eligible homeowners or to qualified partners/investors who will upgrade the properties to market standards. Fully rehabbed homes may then be sold to owner-occupied buyers, but the homes will not be eligible to be rehabbed into long-term rental units. These properties will be eligible for applicable tax credits with the application being the responsibility of the rehab partner.