City of Fairfax Helps Owners Improve Homes

The Washington Post reported this morning on programs Fairfax City has to assists homeowners in making renovations to their homes:  Fairfax Makes It Pay to Stay.  The programs Fairfax City uses to encourage owners to improve their homes are unique and extremely beneficial to residents of the city.  The City uses several different incentives as part of the Neighborhood Renaissance Program including 0% interest loans and tax exemptions for residents who improve their homes.  The loans can be used for such things as adding a garage or a master bedroom suite to a home that is at least ten years old.  To use the program an owner has to agree to stay in the home for three years and the value of the home cannot be greater than $750,000. 

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