Illinois Gov. JB Pritzker | illinois.gov
Illinois Gov. JB Pritzker | illinois.gov
The Illinois Housing Development Authority (IHDA) has announced the creation of a new homeowner assistance program aimed at providing financial help for much-needed safety, accessibility, health and energy efficiency home repairs to low-income families.
The Pritzker administration's Home Repair and Accessibility Program (HRAP) will invest $15.3 million to help save existing affordable housing and help underserved communities, a recent WAND news report said.
“Every Illinoisan deserves housing that is safe and accessible—no matter their economic status or zip code,” Gov. JB Pritzker said in the news report. “This $15.3 million home improvement grant program will provide low-income and disabled Illinoisans with the resources and support they need to stay in their homes—all while investing in communities that have been underserved for far too long.”
Under the program, up to $45,000 in the form of a five-year, forgivable loan could be awarded to qualifying homeowners to cover the cost of housing repairs, the report said. The money will be distributed through 36 local government and nonprofit organizations that have experience helping or running similar programs to assist homeowners with their houses.
In order to qualify for HRAP help, the homeowner's income must be at or below 80% of the area's median income based on how many people are living in the house, the mortgage payments must be up to date, and the house must be a single-family unit.
"it is imperative our low-income and aging populations live in healthy, stable and safe homes so they can continue to reside in the communities and neighborhoods they have called home," Kristin Faust, IHDA executive director, said in the report.
Money for the new program is through the Illinois Affordable Housing Trust Fund, which is paid for by a portion of the State's collection of real estate transfer taxes, the report said. Homeowners who think they may qualify for assistance under the program are encouraged to apply through one of the organizations in charge of distributing the funds.
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