GB Receives $1.35M for Housing Rehab for Income-Eligible Homeowners
Great Barrington, Mass. (Aug. 30, 2023) – The Healey-Driscoll administration has awarded $1.35 million to fund housing rehabilitation for income-eligible Great Barrington homeowners. The funds provide a 0 percent interest, deferred payment loan of up to $50,000, which is forgivable if the homeowner remains in the residence for at least 15 years. Funds cover building code repairs, weatherization, lead paint abatement, handicap accessibility and emergency funds for leaking roofs, failed furnaces and septic systems. The funds come from a Community Development Block Grant, which will fund home improvements for up to 24 low-and moderate-income households. “We are extremely grateful to the Governor and her administration for this grant award,” said Town Manager Mark Pruhenski. “Great Barrington has been very proactive in creating new affordable homes and apartments in recent years, but it is equally important to provide funds for homeowners to ensure their homes are safe, healthy and energy efficient.” “This is an exciting and important grant award for our residents,” said Christopher Rembold, Assistant Town Manager / Director of Planning and Community Development. “Rehabilitation of existing homes is a key aspect of our Town’s affordable housing strategy,” The town will open the application process within a few months, and will prioritize grants for correcting health and safety violations. Applications will be considered on a first come, first served basis. Program details: · The Regional Housing Rehab Program is a grant-funded program that provides eligible households with a 0% interest deferred payment forgivable loan of up to $50,000. · Residents are accepted on a first-come/first-served basis and must be income eligible. · The maximum eligible income for a two-person household is $60,250; it is $75,300 for a four person household. · There is no cost to the town of Great Barrington · Residents repay a portion of the loan only if they sell their home within 15 years. · A professional Program Manager and Rehab Specialist work with the homeowners on their approved project. · Previously, many contractors have been local, so the program is also an important local economic catalyst. Applications will be made available before the end of this calendar year.