Housing rehabilitation and lead abatement funding available
New London — The city is offering funding for rehabilitation projects and remediation of lead-based paint.
The city’s Housing Conservation Program has deferred and repayment loans available for rehab projects at owner-occupied properties with up to four units. Funds can be used for roofs, electrical, plumbing and heating systems, energy conservation, safety hazards and ramps for disabled residents. Participants must occupy the rehabilitated property for the life of the loan.
The program offers deferred loans of up to $10,000 for single-family, owner-occupied properties. These loans are forgiven at the rate of 10% per year for 10 years. The program also offers repayment loans at 3% to 6% to qualified property owners of owner-occupied multifamily homes with up to four units.
New London’s Lead Hazard Reduction Program has grants and deferred loans available for houses built prior to 1978 and occupied by children under the age of 6. Funds will be awarded as grants of up to $10,000 for single-family, owner-occupied properties, and deferred loans of up to $10,000 per unit for both owner-occupied and multifamily rental properties with up to four units.
For more information, income guidelines and to prequalify, contact Judi Cox by calling (860) 447-5243 or emailing firstname.lastname@example.org.
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