Chamber discusses encouraging parish growthMar 29th, 2011 | By Terri Sercovich | Category: News
The St. Bernard Chamber of Commerce met Wed., March 16 for their monthly membership meeting. Guest speakers were Judge David Gorbaty, and Cliff Reuther of Prudential Gardner discussing “A New Construction Initiative.”
The initiative’s goal is for the remaining lots left over from the Lot Next Door program be offered to people who wish to build new homes and reside in St. Bernard Parish.
It has not yet been approved by parish government but has caught their interest.
Each lot would have an averaged starting value of $12,500 and would be offered to people who are already approved by a lender for a construction loan. The $12,500 would be attached to the loan as a “soft second mortgage.” After five years, the soft second mortgage would then be forgiven. There are more stipulations such as the construction must begin within six-months after receiving the property and must be finished building within the next six-months.
For more information about the St. Bernard Chamber of Commerce, visit www.stbernardchamber.org.