Continuously serving Kosciusko County since 1854
PIERCETON - Volunteers will go door to door March 16, placing door hangers on homes throughout Pierceton which provide information about the owner-occupied rehabilitation loan program.
Homeowners with a low to moderate income are eligible for the program.
In December 2004, the Indiana Housing Finance Authority awarded $200,000 to Pierceton as an investment into affordable housing in the community. This is the sixth year Pierceton has participated in the program. The town council has provided a portion of the matching money and other funds have been given by various organizations. Since 2000, 21 homes have been updated and/or improved because of the program.
At the Pierceton branch of Lake City Bank is a display with information and pre-applications to use the program. The information will be available throughout March.
Unlike previous owner-occupied improvement loans, IHFA has limited costs of rehabilitation to $15,000 in 2005. Improvements such as a new roof, electrical upgrades, plumbing repairs and furnace replacements are acceptable. The loans are forgivable as long as the property owners stay in the house for five years.
Several homeowners already have been approved for this year's grant program. Money still is available on a first-come, first-served basis, according to HOW executive director Pam Kennedy.
"Although there is a $15,000 limit on improvements," she said, "this means we can fix problems in more homes."
For more information, call Housing Opportunities of Warsaw, 574-269-7641.
