PRIVATE REHABILITATION FUNDS STILL AVAILABLE!!
The city estimates providing assistance to rehabilitate seven (7)
owner-occupied dwellings, four (4) of which need to be located in
census tract/block groups 4172-004 & 4173-002 (see Target Area
Map). Funds will be
available to fund three (3) additional private rehabilitation project,
which do not have to be in the target area. However, priority will be
given to those home that are within the target area.
AT THIS TIME, FOUR (4) ADDITIONAL APPLICATIONS WILL BE ACCEPTED.
The average cost of
rehabilitation is estimated to be $32,000 per unit (if lead-based paint
hazards do not have to be addressed) and $37,000 if lead-based paint
hazards are involved. The purpose of this program is to correct
structural, heating, plumbing and electrical system deficiencies that
are determined to be building code violations. The rehabilitation will
be done to standards developed by the Ohio Department of Development's
Office of Housing & Community Partnership (OHCP).
All applications will be ranked based on need and household income
level. and again, priority will be given to units within the target
area. Work will commence on the first 3-4 units around March or April
2011 and work on the remaining units will start in autumn 2011.
Assistance is provided in the form of an interest-free "deferred loan".
The amount of the rehabilitation loans is "forgiven" (eliminated) by 17%
each year for a period of five years, provided that the
owner-occupant remains in the dwelling and remains the owner of record.
At the end of five years, 15% of the initial loan will remain as a lien
on the property. This amount may be paid back to the City anytime
after the five year period. Alternatively, the applicant may choose not
to repay the 15% but allow the lien to remain on the property until
such time that the property is sold or the title is otherwise
transferred to another party. No interest is charged on the remaining
15%, no matter how long it remains unpaid.
Prior to submitting an application, please download and read: Community Development Bulletin
Click FY2010 CHIP - Application for Owner
Rehabilitation to download an application.
Private Rehabilitation applicants must also
complete and return a signed original of the FY2010 CHIP - Dispute Resolution Policy along with
the completed application.