The City of Decatur is offering an owner-occupied rehabilitation grant program to homeowners and is partnering with Land of Lincoln Credit Union to provide access to capital for landlords to rehabilitate their rental homes.
Donor Name: City of Decatur
State: Illinois
City: Decatur
Type of Grant: Grant
Deadline: 07/08/2022
Details:
The Landlord Home Improvement Loan Fund will provide access to capital for landlords, which in many cases, are unable to get a traditional loan for home improvements due to the value of the home (asset) being less than the loan amount needed for rehabilitation.
The Contractor’s Loan Fund will provide access to capital for small contractors that may not have the cash flow for payroll, materials, supplies, transportation, lodging, etc., to take on the owner-occupied rehabilitation program. This will help small contractors build personal credit and build their capacity as a business, which is critical to the success of housing initiatives.
Eligibility Criteria
- Residential properties eligible for this program must be within one of the targeted neighborhoods within the city’s urban core.
- Eligible activities for the owner-occupied rehabilitation program includes, but not limited to:
- Roofs, porches, and exterior stairs/steps
- Foundation and structural improvements
- Accessibility improvements for occupants with disabilities.
- Repair/replacement of mechanical systems
- Lead remediation
- Exterior painting, trim and or fascia
- Tuck point, masonry
- Driveways and retaining walls
For more information, visit City of Decatur.
