SPARTANBURG RESIDENTIAL DEVELOPMENT CORPORATION

SPARTANBURG RESIDENTIAL DEVELOPMENT CORPORATION TO ASSIST LOW AND MODERATE INCOME RESIDENTS OF THE CITY OF SPARTANBURG TO BECOME HOMEOWNERS, BY PROMOTING THE GROWTH OF RESIDENTIAL HOUSING WITHIN THE CITY, BY ENCOURAGING THE CONSTRUCTION OF NEW HOUSING AND RENOVATION OF EXISTING HOUSING FOR LOW AND MODERATE INCOME CITIZENS, AND BY PROVIDING LOW INTEREST LOANS FOR LOW AND MODERATE INCOME RESIDENTS OF THE CITY OF SPARTANBURG. TO ENABLE SUCH CITIZENS TO PURCHASE EXISTING HOMES, BUILD NEW HOMES, AND/OR REMODEL EXISTING STRUCTURES THAT ARE BEING PURCHASED FOR OWNER OCCUPANCY, AND TO ASSIST IN THE PAYMENT OF CLOSING COSTS IN CONNECTION WITH LOANS WHICH ARE MADE TO ELIGIBLE RECIPIENTS.