NorthEast Area Renaissance (N.E.A.R.)

HOMEOWNER REHABILITATION PROGRAM

Jun 01, 2004

For Low/Moderate Income

Spring is coming and everyone starts to think about getting that house fixed up. In fact, there are some repairs that need to be done but not everyone has money to fix up their house. The City of Cantons COMMUNITY DEVELOPMENT & PLANNING Department has a program available for low-income individuals, the Homeowner Rehabilitation for Low/Moderate Income. Here is the program:

1 The rehabilitation cost can be financed with a conditional grant up to 90% (not to exceed $20,000) of the total rehabilitation.

2 The remaining cost (must match at least 10% with a minimum of $2,500) of the rehabilitation must come from the private sector.

3 The loan is forgiven at the end of ten (10) years. During the 10-year period, Mortgage Subordination Agreements will NOT be authorized.

The property will have a "Lead Risk Assessment" to determine the existence, nature, severity, and location of lead hazards in structure. The results will stay with the property even if you do not receive a Homeowner Rehabilitation Grant.

Any individual or family may receive only one Homeowner Rehabilitation Loan per lifetime.

Maximum HOME Conditional Grant: $20,000

Contact: The Housing Program Manager (330) 489-3040 for complete details.

Applicant cannot have received assistance from any City Funded Program for five (5) years and may not have assets of more than $10,000 after project completion.



This is not the only program the city has, for other programs, go to the City of Canton web site under development (http://www.cityofcanton.com/citygov/ecdevdept/gprogram.html ) for more information.



Thanks to Terrance Jones from the Mayors Office for supplying this information to NEAR.

-Dan Buttemore, Vice President of NEAR