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Commissioners Prepare to Issue Tax-Exempt Housing Bonds

July 14th, 2014 by WCBC Radio

Allegany County’s elected commissioners paved the way Thursday to obtain $2,609,900 for the purchase of homes in the county. The money will be used to issue tax-exempt housing bonds and will make mortgage money available to all home buyers, not just first-timers, according to David  Nedved, economic and community development representative.  A variety of financial institutions would make the loans at interest rates of 2.0 to 4.875 percent.  Nedved noted that the range is flexible enough that almost any family in the county could potentially qualify.


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