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TONH Community Development Agency Announce Non-Interest Limited Income Home Rehabilitation Loans


For Immediate Release                                                                                                                   Contact: Collin Nash or Sid Nathan
March 25, 2011                                                                                                                                                              (516) 869-7794

TONH Community Development Agency Announce Non-Interest Limited Income Home Rehabilitation Loans

Manhasset, NY— Targeting limited-income households, especially seniors who want to remain in their own homes as they age, Supervisor Jon Kaiman, the Town Board and the Town of North Hempstead Community Development Agency announced a program designed to help owner-occupied households repair and remodel their homes through grants, which under certain conditions, require no repayment.

“The more households we can help improve or maintain their values of their properties, the more we will be able to enhance the quality of life in North Hempstead,” Supervisor Jon Kaiman said.

The grants, which are being offered by the Town of North Hempstead in partnership with the US Department of Housing and Urban Development, range from $6,000 to $40,000.

Grants larger than $6,000 start out as a non-payment, non-interest conditional loan that after five years requires no repayment. If for some reason assisted home owners or their estate sell the home within the five year period they only pay back the amount of assistance given, without interest or closing fees.

The work on a home is determined on an individual basis and may include but not limited to:
• Removal of housing code violations and hazardous conditions
• Removal of hazardous materials such as lead and asbestos
• Repair heating, plumbing and electrical systems
• Repair or remodel roofing, gutters, windows, siding, stoops and railings
• Repair and or renovate bathrooms and kitchens
• And removal of architectural barriers Homeowners are eligible to participate in the program when they have lived in their homes for at least one year and when they live in the unincorporated areas of North Hempstead.

Applicants must also meet the following income and occupancy guidelines:

 Number of Household Occupants  Household Income Not Exceeding
 One  $58,400
 Two  $66,300
 Three  $74,600
 Four  $82,900
 Five  $89,500
 Six  $96,100
 Seven  $102,800
 Eight  $109,400

For more information call 311.
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