St. The Louis program offers free homes for $ 1

ST. LOUIS (AP) – The city of St. Louis has launched a program to allow people to buy vacant housing for $ 1.

The St. Louis Post-Dispatch reports that the city's land bank, the Land Use Authority, has set aside 522 vacant houses for the new Dollar House pilot program. The buildings are single-family homes, less than 1500 square meters, and are located in neighborhoods that have seen significant disposal over recent years.

Most of the constructions are not inlaid and applicants must prove that they have the financial means to renovate the property. New homeowners must stay in the property for at least three years.

St. John Parker, spokesman for the Louis Development Corporation, says the city hopes the program will provide adequate housing and revenue by returning the vacant properties to the tax office.
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Information from: St. Louis Post-Dispatch