Barrow Street home‑sale program struggles to find buyers; outreach to Lebanon residents planned

Staff reported the Barrow Street pattern‑zoning house‑sale program has seen initial interest dwindle: roughly 20 people expressed interest earlier but, after qualification checks, none remain in the pool. If no qualified local applicants come forward by the team's next outreach date, the city will open eligibility to all Lebanon residents as of July 15.

"We're wrapping up 3 or 4 relatively small items, but they, at this point, they're all big," a committee member said while describing financing and bond pricing still being finalized for the project. Staff said the current estimate for a finished home is closer to $425,000 rather than earlier lower figures, and that buyers will need preapproval for financing, an initial $1,000 deposit and a larger nonrefundable deposit if selected.

Commissioners discussed outreach strategies — engaging employer partners, UVBA and other local groups — and whether the program's financial structure (down‑payment requirements, nonrefundable deposits) might be discouraging applicants. Staff noted banks and state programs that assist with down payments, and that VA loans remain an option for veterans.

No decision was made; staff said final pricing and eligibility outreach plans will be reported at the next meeting.