The Rockland County Office of Community Development has allocated $150,000 this year for the program, which is meant to fix substandard conditions such as a leaky roof, faulty electrical wiring or aging plumbing.
The Owner-Occupied Rehabilitation Loan Program is open to low- to moderate-income property owners who are age 55 or older or severely disabled.To qualify for the program, a household with two people, for example, cannot have a gross annual income that exceeds $51,550. Also, the house has to be appraised for $380,000 or less.Joe Abate, director of the county's Office of Community Development, said seniors who are on fixed incomes and can't afford to make repairs stand to benefit most.
"The county is aging, but most (older people) want to stay in their homes," Abate said recently. "This might provide them with some funds to be able to do that."
People with disabilities or those who are limited due to failing health and need their home modified, such as requiring a handicapped-accessible bathroom, also should apply for the program, which is being resurrected after lying dormant for a few years, Abate said.
The maximum award is $25,000. If the cost of the repairs exceeds that figure, Abate said, the balance would be the homeowner's responsibility. His office will try to find other funding sources.The Department of Housing and Urban
Because it is technically considered a loan, the county puts a lien on the person's home. Homeowners don't have to repay the money unless they sell the house within 15 years or if they die within that time.
Making the improvements benefits the entire community, Abate said. Instead of having a dilapidated home in a neighborhood, homeowners will be able to maintain their houses and keep up home values.
Source http://www.lohud.com/
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