Subject: Peaks Island Housing Help
From: [email-masked]
To: &quot;(kjdonoghue&quot;@gmail.com([email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], Jpia
Date: Fri, 15 Jan 2010 16:12:07 -0500

HOME Program Expands to Cover Entire Cumberland County

Federal funding available for housing rehabilitation and home ownership 
assistance

     PORTLAND, Maine – Starting this week, federal Housing and Urban 
Development (HUD) funds will be available for home repair and home 
ownership applicants living in Cumberland County through a new HOME 
Consortium program administered by the City of Portland’s Department of 
Planning and Urban Development.
     For more than fourteen years, the city’s Planning and Urban 
Development Department has successfully operated a $650,000 HOME 
program locally and based on its experience and knowledge in this area, 
the Department has been designated the lead entity by HUD and will 
administer both the HOME program for Cumberland County as well as 
Portland.

     The HOME Consortium program makes funds available for a variety of 
housing rehabilitation and repair projects including, energy audits 
(heat loss analysis), weatherization, new roofs, chimneys, windows and 
doors, heating, electrical and heating systems, entry stairs and the 
correction of code violations.
     Down payment and closing cost assistance for qualified first-time 
home buyers is also available. For this fiscal year, $293,281 is 
available for home ownership assistance, and $160,000 for housing 
rehabilitation, which is projected to fund between ten and twenty 
rehabilitation home projects and ten to fifteen first-time home buyers.
     While funding is limited, people living in Cumberland County 
interested in the program are encouraged to contact the city to find 
out more.

     Established in 1994, HUD’s HOME program funds the rehabilitation of 
income eligible owner-occupied properties with up to four units for as 
much as $15,000 per unit, and multi-family properties occupied by 
income eligible tenants.
     Eligible applicants may receive a forgivable loan, a low interest 
payable loan at zero to three percent, or a combination of a forgivable 
loan and a payable loan. Appropriate financing terms will be tailored 
to an individual applicant’s ability to pay.
     Deferred payment loans of up to $30,000 are also available for 
first time homebuyers for down payment assistance and other eligible 
costs for individuals and families purchasing their first home.
     Additional funding is available for eligible applicants for the 
identification and treatment of lead paint hazards, and all applicants 
can receive a free heat loss analysis by a Maine Certified Energy 
Auditor.

     Program information, including income guidelines and applications 
are available online at  
http://www.portlandmaine.gov/planning/housingprog.asp or contact Mary 
Davis at 207/874-8698, or via email  to [email-masked] for more 
information.

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