DETROIT (AP) – About 1,600 homeowners have had their back taxes paid off thanks to a program designed to preserve the wealth and equity in their Detroit home while helping families achieve financial independence.
Another 3,250 Detroit homeowners are also in the Detroit Tax Relief Fund pipeline and could have their property tax debt paid in full by the end of the year, a foundation linked to the man said Thursday. billionaire businessman Dan Gilbert.
Gilbert announced the program in March through his Gilbert Family Foundation, starting with $ 15 million to pay off the property tax debt of 20,000 of the city’s poorest homeowners.
Money saved by homeowners can be used to make repairs to their homes, pay bills, and meet other financial needs.
Gilbert founded Detroit-based Quicken Loans, which is now known as Rocket Mortgage.
The Gilbert Family Foundation also announced Thursday the hiring of Darnell Adams as director of community initiatives for Detroit. Adams had been vice president of program implementation at Invest Detroit. He will oversee the foundation’s philanthropic engagement, including the efforts of the tax relief fund.
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