The Department of Local Affairs has announced that $177,878.00 in Community Development Block Grant (CDBG) funds has been awarded to Otero County for the following project:
The Town of Fowler, on behalf of the Tri-County Housing and Community Development Organization (TCHCDC), will receive a grant of $177,878 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 eight (8) self-help rehabilitation projects. These grant funds are combined with Rural Development low-interest mortgages or conventional mortgages to help 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 40 homes to date.
Post a Comment