Housing Community-block grant through the HAYC helps low-income families
To help with repairs, the Housing Authority of Yamhill County has a grant available for those who cannot obtain traditional financing.
Darcy Reynolds, housing rehabilitation specialist for HAYC, said the city of Newberg received a $310,000 community development block grant from the state to administer the grant to those who qualify.
They gave $310,000 for construction and we are hoping to help approximately 20 families, Reynolds said.
These families do need to meet low income requirements. For those who are below the moderate income level $41,640 annually for a family of four the loan can be offered at 2 percent interest with no payments for a year. Those below the low income level $34,700 annually for a family of four the loan is interest free and requires no payments as long as the family remains in the low level income and lives in the house.
The really neat thing is when the loans are repaid it goes into the county wide housing rehabilitation revolving loan fund, Reynolds said.
She added that the revolving loan fund is always available and its block grants like these that replenish the funds.
There are currently plenty of funds and no waiting list, she said. But theres limited funding so people should try to take advantage while its available.
For more information contact Reynolds at 503-883-4324 or visit www.hayc.org.