$150,000 grant from bank to help first-time homebuyers in Chandler

The partnership between Chandler and the Newtown Community Development Corp., in working to put first-time homebuyers into empty houses, got a boost recently.

Newtown, the Tempe-based non-profit organization that administers much of Chandler’s neighborhood stabilization efforts, received a $150,000 Priority Markets Grant Friday from Wells Fargo bank. The money will be used to bolster the down-payment assistance program for first-time buyers and help set up a rotating loan fund for repairs to existing homes in the program.

Newtown Executive Director Allen Carlson said $100,000 of the money would be combined with $200,000 in existing funds for down-payment assistance. The remaining $50,000 from the grant would start the loan fund.

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