Continuously serving Kosciusko County since 1854
The U.S. Department of Agriculture Rural Development presented a $37,500 Housing Preservation Grant to Housing Opportunities of Warsaw Inc. Wednesday. The grant will be used to assist in the rehabilitation of approximately 20 low- to moderate-income owner-occupied homes in Winona Lake.
HOW received one quarter of the housing preservation funds available in the state, according to Sarah J. Creason, a USDA Rural Development Area specialist.
"We salute HOW for their commitment to affordable rural housing," she said. "These funds will pay for repairs to enable some families to stay in their homes."
HOW has in-kind commitments totaling $3,200. The town of Winona Lake is providing $7,258 in matching funds and has set aside more than $17,742 in matching monies for HOW to make application for Indiana Housing Finance Authority funding. With receipt of the IFA funds, available housing preservation dollars would be $250,000.
"IFA used to allow up to $45,000 per house for repairs or replacement or repair work," said HOW Executive Director Pam Kennedy. "That amount has been reduced to $15,000. An applicant may just want a furnace replaced, but if we see chipping paint around the windows and it turns out to be lead paint, we have to take care of that first. Lead paint removal is very expensive. When the paint is gone, there may not be money left for a furnace."
By combining the Rural Development funds with the IFA money, the agency will have more flexibility, Kennedy said.
Rental property owners also may apply for the funds if they agree to make their units available to low- and very low-income persons.
For more information, call HOW, 574-269-7641.
On the Net:
www.rurdev.usda.gov
