BEACON FALLS — The town is seeking property owners interested in participating in a housing rehabilitation program.
The town has been awarded a $400,000 Community Development Block Grant for the program. The grant is used to provide 0-interest loans for low- and moderate-income homeowners to make needed repairs to their homes. The loans must eventually be repaid either by the homeowner or when the house changes title.
To be eligible, single homeowners must have an annual income that does not exceed $44,750 or a maximum of $51,150 for a household of two. For households of three persons or more the 2014 HUD income limits are followed. Homeowners must also be current on their taxes and have a minimum of 15 percent equity in their home.
The loans can be used for a variety of work, including replacing failed furnaces, and repairing roofs, windows and septic systems. The funds can go towards ADA modifications to homes as well, such as entrance ramps and bathroom modifications.
The town must demonstrate that there is a demand and need for this program. Residents interested in the program are asked to submit letters of interest. Letters of interest can be found online on the town’s website, www.beaconfalls-ct.org, through the “Small Cities Housing Rehabilitation Program” link on the homepage. The deadline for submitting a letter is March 28.
For more information, call Karen Wilson at (203) 729-4340 or Lisa Low & Associates at (203) 888-5624.