Laserfiche WebLink
Rehabilitation Grant Summary Page <br />Purpose: To fund all or a portion of the cost <br />encountered in rehabilitating existing or <br />acquired owner -occupied housing units. <br />Funding Source: State Housing Initiatives Partnership <br />(SHIP) <br />Eligible Persons: ► Very Low Income <br />► Low income if it is a match for <br />another state or federal housing <br />grant <br />Assistance: The county may provide.up to $20,000 per <br />unit in rehabilitation grants. The <br />applicant shall execute a grant agreement <br />withy the county indicating that <br />applicant will comply with the county's <br />Local Housing Assistance Program's <br />requirements. <br />Criteria: Income Eligible Households: VLI (up to 50% <br />of the county's median income), LI (51 to <br />80% of the county's median income) <br />Property <br />Qualification: Owner -Occupied <br />Debt Ratio: N/A <br />Loan Period: 10 years <br />Interest Rate: Zero (0) <br />Repayment Terms: No payment is <br />required except in <br />cases where assisted <br />unit is sold prior <br />to 10 years, or if <br />the assisted unit is <br />occupied by someone <br />other than the <br />original grant <br />recipient. <br />Gia <br />