Do You Live in the City of Richland Center, WI?
If so,
WHAT CAN CDBG DO FOR YOU?
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Owner-Occupied Rehab: Funds may be used ONLY for repairs that are of a health, safety, or code compliance nature. These repairs are verified by a Housing Quality Standards home inspection and are not for cosmetic purposes. See subtitle: Rehabilitation.
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The repayment of the loan is deferred and no interest charged until the house is sold or ceases to be the owner’s principal place of residence.
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Renter-Occupied Rehab: CDBG funds may be used to rehabilitate units rented by Low to Moderate Income (LMI) tenants to correct health, safety, or code deficiencies. The funds are loaned to the property owner for up to $12,000.00 per unit at 3% interest. The loan period shall be up to 10 years depending on the ability of the owner to pay. The property owner must guarantee to rent to LMI households at affordable rents for a specified term.
Additional Information:
- Rehabilitation
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Housing rehabilitation on eligible properties (owner or renter) may include repair or replacement to some or all of the following:
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Electrical, Plumbing, Heating, Sewer lines, Water lines, Insulation, Foundation, Roof, Structural, and Lead based paint hazards
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*All rehab projects (renter and owner-occupied) require that property taxes be paid current and that insurance coverage be in place to cover the property as well as the cost of improvements after rehab. The City of Richland Center must be named as an additional mortgage holder on the insurance policy.
- CDBG Funded Housing Activities
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All CDBG activities are intended to principally benefit low and moderate income (LMI) households (at or below 80% of County Median Income level)
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See Current Income Limits.
Eligible properties must be located within the limits of the City of Richland Center and must be inspected by a State Certified Building Inspector.
visitors since 3/4/04