City to offer low-interest rehab loans
Senior Staff Writer
Are you looking to upgrade your home or a rental you own?
If you live inside the Grass City limits, you might be eligible for a low-interest loan from the city’s Housing Rehabilitation Program’s $1.2 million fund.
“It’s a self-replenishing fund where payments go back into it,” said Joe Heckel, the city’s director of Community Development.
Heckel will explain the program tonight at 7 p.m. at the City Council meeting at city hall, 125 East Main Street.
The program can be used for just about any upgrade from a full makeover to simple or expensive repairs for siding, windows, doors, insulation, plumbing, electrical items, roofing, painting and even foundations, according to city literature.
“We do this about one every three years to get the word out to , contractors, loan agents, Realtors, bankers, and homeowners associations,” and individual homeowners, Heckel said. “Financing is a little difficult now, so this is another opportunity for people to redo their home.”
The first program offers 1 percent interest loans that average about $85,000, but some have been issued for more than $100,000, Heckel said. Property owners can use the loans for rehabilitating houses, condominiums, townhouses and apartment buildings.
A second program offers emergency repairs with one-time only grants with a rent limitation agreement attached. A third is a grant program for homeowners to replace their old woodstoves with the new, energy-efficient models now on the market for 10 percent of the total cost.
To find out about the programs, attend tonight’s meeting, or call Beth Owens at the city at 274-4344.
To contact Senior Staff Writer Dave Moller, e-mail firstname.lastname@example.org or call 477-4237.
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