Continuously serving Kosciusko County since 1854
Combined Community Services and Housing Opportunities of Warsaw are each in receipt of Indiana Housing Finance Authority awards.
Gov. Joe Kernan made the announcment Friday. More than $6.8 million has been approved for affordable housing programs around the state.
Housing from Shelters of Homeownership uses federal HOME investment Partnership Program and Community Development Block Grant funds and the Indiana Low Income Housing Trust Fund to support such affordable housing efforts as emergency shelters, transitional housing, yough shelters, migrant/seasonal farm worker housing, rental housing, homeownership units and homeownership counseling/down payment assistance.
CCS applied for a grant under the last option, according to executive director Laura Kauffman.
"We just found out yesterday," Kauffman said Friday of the $150,000 award.
It is a new program for the organization, an extension of the Individual Development Accounts program.
The HOME funds will be used for homeownership counseling - five classes - and down payment assistance - up to $7,000 at closing - for up to 30 families.
"People will go through the classes to find out about home ownership and it's responsibilities. Once they've graduated they can get with a real estate salesman, go to a local bank for a loan and be eligible for down payment assistance," Kauffman said. "Although, after the classes, they may find out they'd rather rent."
A waiting list has been developed, but that list is far from full. The program is income restricted, geared for low- to moderate-incomes. Kauffman said the total income for a family of four, for example, can't exceed $47,000 or $33,000 for a single person.
The classes are open to anyone. She anticipates applications from Project Independence and IMPACT graduates, folks who have been through other CCS programs.
Laura Cooper, who also runs the IDA accounts, will be in charge of this program.
When an IDA savings goal is reached, the state matches the deposited amount, $3 for every one dollar saved, up to $900 per year.
HOW Foundation Award
HOW received a $25,000 Foundation Award. IHFA's Foundations program uses HOME and CDBG monies to fund predevelopment loans, seed money loans, housing needs assessments and site-specific feasibility studies.
The funds will be used for a predevelopment loan to cover the predevelopment costs associated with new construction of 10 rental units in Warsaw. This development also received an award of $5,000 in HOME funds for a seed money loan.
