Richmond City Council approves sale of 14 tax-delinquent properties | Apartment Loan Depot Since 2005 – Fannie Mae and Freddie Mac Multifamily Loans Nationwide

(RECAP: The Richmond City Council approved the sale of 14 tax-delinquent properties across the city Monday. The city currently sells the properties to nonprofit organizations such as ElderHomes Corp., which will buy six of the 14 properties following Monday’s vote. The Richmond Metropolitan Habitat for Humanity will buy six properties, and the Better Housing Coalition will buy two. Each property will be sold for $1,750 and will be redeveloped. The nonprofits chose which properties were best for them to help develop as low-income housing, said Nicholas Feucht, a project manager analyst in the Department of Economic and Community Development. Councilman Chris A. Hilbert questioned why more isn’t being done to help blighted neighborhoods.)