Investing $7 million out of the city of Syracuse's available American Rescue Plan Act (ARPA) funds will put owning a home within reach of more families, according to Syracuse Mayor Ben Walsh.

Walsh will be appealing to the Syracuse Common Council at its standing committee meeting Thursday to consider allocating the funds towards helping local homeowners fix up their houses and assist first-time buyers in closing the deal.

“The pandemic is forcing families to make difficult choices, and it is too often the quality of their housing that’s suffering," Walsh said. "Our neighborhoods are feeling the effects of deferred maintenance on properties, and many buyers have had to set aside their dream of ownership. ARPA relief can give city residents the help they badly need to invest in their properties and help us create more owner-occupied homes in city neighborhoods. This funding will ensure we are delivering on our promise to support children, families and neighborhoods with ARPA funding.”

To make it happen, the city’s Department of Neighborhood and Business Development would partner with Home HeadQuarters, Inc., a Syracuse non-profit that provides low interest loans and grants for home purchase and improvement to underserved residents.

To break it down, $4.5 million of the proposed investment plan would go toward loans of up to $20,000 for emergency repairs, including roof, plumbing and sewer leaks; non-working furnaces; collapsed foundations; priority code violations and other life safety repairs.

Syracuse Homeowner Assistance and Repair Program (SHARP) grants would get a $1 million boost under the proposal to cover minor exterior home improvements and assistance with code compliance.

Another $1 million would go toward 1% interest home improvement loans and the final $500,000 would assist first-time homeowner hopefuls with closing costs.