Friday, September 3, 2010

$222,249 granted for housing in Bent, Crowley, and Otero Counties

The Department of Local Affairs has announced that $222,249 in CDBG funds has been awarded to the Town of Fowler for the following project:

The Town Of Fowler, on behalf of the Tri-County Housing and Community Development Organization (TCHCDC), received a CDBG grant of $222,249 to continue the funding of their three-county (Bent, Crowley and Otero) Self- Help, Single-family, Owner-Occupied Rehabilitation Program for households at 80% of Area Median Income or less. The new grant funds will be combined with other sources to provide low-interest loans for 8 self-help rehabilitation projects. These grant funds are combined with Rural Develop low-interest mortgages to assist first- time buyers become home owners. All households must attend first-time homebuyer training and contribute at least 20 hours a week of labor. This self-help housing rehabilitation program has received funding from the Colorado Division of Housing since 2005 and has completed a total of 35 homes to date.