BEACON FALLS — The town has been awarded a $400,000 Community Development Block Grant for housing rehabilitation.
The grant is used to provide 0 percent interest loans for low- and moderate-income homeowners to make needed repairs to their homes. The loans are not due and payable until the property is sold or the homeowner is deceased.
To be eligible for a loan, a property owner’s income can’t exceed $44,750 for a one-person household or $63,900 for a four-person household. The property owner must also be up to date on municipal taxes and have 15 percent equity in 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.
Lisa Low & Associates is a consultant for Beacon Falls working with the grant. For more information or a grant application, call (203) 888-5624.