(NORTHEAST PARK: Home Improvement Program)

Program Flyer – English
Program Flyer – Spanish

PROGRAM GUIDELINES

Program Overview:    NE Park Neighborhood has NRP dollars available that have been designated to help property owners make necessary repairs and improvements.  The intent of this Grant Program is to encourage investment in the neighborhood by maintaining and improving the housing stock.  Other sources of funds are also available, such as MHFA and CEE, which may be used to supplement this program.

Grant Program

1. Interest Rate: None
2. Grant Amount: Minimum of $1,000; Maximum of $3,000
3. Program Match: There is no matching requirement for households with income less than or equal to 100% HUD AMI, based on household size.  If household income is greater than 100% HUD AMI the recipient must match each grant dollar (1:1).  Income will be verified by a copy of the most recent Federal Tax Return.  If a Tax Return is not required to be filed then income will be determined by verifying the projected income over the next 12 months.
4. Income Limit: No maximum income limit; however, project acceptance will be weighed on a needs basis for individuals who have projects that are critical for safety and security of their homes.  A copy of the most recent Federal Tax Return will be used to determine if a Program Match is required.  If a Tax Return is not required to be filed then income will be determined by verifying the projected income over the next 12 months.
5. Grant Term: N/A
6. Eligible Properties: Owner occupied 1-4 unit properties located within the boundaries of the NE Park Neighborhood.  Individual condominiums, townhomes and properties held in a trust are eligible.
7. Ineligible Properties: Properties with more than 4 units, co-operatives, manufactured homes, time shares, and properties used for commercial purposes.
8. Eligible Recipients: Owner occupants of 1-4 unit properties within the NE Park Neighborhood who meet the program guideline criteria.
9. Ineligible Recipients: Include, but are not limited to: co-borrowers with no ownership interest in the subject property and business entities (Associations, Corporations, Partnerships, LLC, etc.).
10. Ownership / Occupancy: Property must be owner occupied. (NEPNA will review eligibility at 6 months and a year of home grant program to determine eligibility of non-owner occupied 1-4 unit properties located within the boundaries of the NE Park Neighborhood).
11. Equity: N/A
12. Debt- to-Income Ratio: N/A
13. Underwriting / Credit Requirements: Applicants must be current on all mortgage payments and property taxes.
14. Multiple Grants per Property/Applicant:  Applicants may receive multiple grants, but the combined amounts are not to exceed the program maximum grant amount.
15. Eligible Improvements: Most interior and exterior improvements
16. Ineligible Improvements: Work initiated prior to the loan being approved and closed. No recreation or luxury projects (pools, lawn sprinkler systems, playground equipment, saunas, whirlpools, etc.), furniture, and non-permanent appliances. Generally shrubs, trees and landscaping are ineligible improvements unless there is a safety or structural issue. Funds for working capital, debt service or refinancing existing debts are NOT allowed.  CEE will defer to NEPNA chair whenever eligibility of an improvement project is in question.

Additional details available in the Program Guidelines

Program Flyer – English
Program Flyer – Spanish