NSP2 Funds Help a San Luis Valley (Monte Vista) family’s Dream of Homeownership Come True
San Luis Valley – Community Resources and Housing Development Corporation sold its first home through the Neighborhood Stabilization Program. Armando and Crystal Bolanos closed on their new home in Monte Vista on July 22nd.
The following week, both new homeowners were beaming inside their new house. When asked about moving into their new home, Victoria Bolanos could hardly contain her excitement. “We are extremely happy with our newly remodeled dream home,” she says.
The parents’ excitement may be slightly outshone, however, by that of their two children, Victoria and Armando Jr., who are already busy thinking of ways to decorate their new spaces. “I am so happy to have my own room with privacy,” says Victoria. Armando Jr. is looking forward to having a place for his own things, namely his football collectibles. “I am looking forward to decorating my room the way that I want to,” he says.
The Bolanos’ new home is part of the federal Neighborhood Stabilization Program (NSP). Through this program, CRHDC was awarded funds to purchase foreclosed properties and renovate or rebuild them before selling them to low and moderate income families.
According to CRHDC’S Corporate Program Coordinator, Ty Coleman, “NSP2 enables us to address homeownership and several other concerns in the community at the same time. By completely remodeling abandoned homes, we are creating construction jobs for local contractors and providing a boost of revenue to the local building material suppliers and other participating vendors.” He says the goal of the organization is to maximize the NSP2 funds by creating more affordable homeownership opportunities and jobs in the San Luis Valley over the next year.