The GATHC has allocated funding to assist income eligible residences with renovations. The GATHC can assist in providing Rehabilitation Specialist services to determine the repairs, upgrades, and renovations necessary, develop work scopes, contracts, and bidding support, and provide oversight of the construction process.
Eligible Single family owner occupied residences can receive a 0%, no monthly payment deferred loan. The loan will include the total cost of rehab and lead paint amounts, as well as any fees incurred. Eligible Multi-family owner occupied residences will be offered a 0% amortized loan for a term not to exceed 20 years. Investor properties (non owner occupied) may qualify for 3% fully amortized loans, for a term not to exceed 20 years. Rent restrictions will apply to all multi-unit properties. Tenants of any rental units assisted must meet the income guidelines established thru HUD.
Projects considered for funding include:
· Lead Paint & Asbestos Abatement
· Health and Safety Issues
· Major Code Violations
· Energy Upgrades (heating, insulation, etc.)
· Roofing / Siding
· Door / Window Replacement
· ADA Improvements
· General Renovations
HUD INCOME GUIDELINES LINK
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