DETROIT (AP) — Homes eligible for $25,000 in forgivable rehabilitation grants are going on sale in a west side Detroit neighborhood.
An online auction by the city's Land Bank Authority begins Thursday for eight houses in the Marygrove area.
Winning bidders who complete a qualification process are eligible for the assistance to repair any home that is bought through the Land Bank website. The grants will be forgiven at 20 percent each year — for up to five years — the buyer continues to live in the home.
Talmer Bank is committing $1 million to the Marygrove renovation project. The grants cannot be used to buy homes.
Bids start at $1,000 for the first house being auctioned.
The auction is part of Detroit's efforts to eradicate blight and stabilize neighborhoods.