The Cities of Reno and Sparks, in a joint effort, are planning to buy foreclosed homes under the Government sponsored "Dollar Homes Program".

Once the homes are purchased, Reno and Sparks (under the Reno Housing Authority) will rent the homes to low and moderate income families. The goal is to reduce the standing inventory of foreclosed homes and to stem the blight of unoccupied homes in Reno and Sparks neighborhoods.

David Morton of the Reno Housing Authority has assured council members that the housing authority will impose high standards for the tenants of homes purchased under the program. The goal is to have these renters care for the homes as if they owned them. Mr. Morton stated that the housing authority will conduct more inspections on these homes to ensure that "the homes are being maintained in an exceptional manner".

The "Dollar Homes Program" was set up in 2000 by the Department of Housing and Urban Development (HUD). Under the program, certain foreclosed homes which have been on the market for more than six months (without an offer) would be made available for purchase by participating cities for $1.00.