County to receive home rehabilitation funds
Published 7:25 pm Tuesday, March 22, 2022
Beaufort County is one of 39 local governments and organizations that will receive a portion of $11 million from NC Housing Finance Agency’s Essential Single-Family Rehabilitation Loan Pool.
The ESFRLP finances major home rehabilitation and modifications for households with incomes below 80% of their area’s median income. This investment will help veterans, seniors and people with disabilities stay in their homes and out of costly institutions, saving on health care and long-term care costs. Homes with lead hazards occupied by a child six years of age or younger may also qualify.
The NC Housing Finance Agency provides this assistance through local governments, regional organizations, community action agencies and nonprofit agencies. Thirty-nine entities will receive funding in the amount of $165,000 set-asides per county served and will manage the rehabilitation process. This $6.32 million will provide comprehensive rehabilitation to at least 117 homes through forgivable loans. An incentive pool of $4.68 million will assist an additional 87 homes.
“Investments in home rehabilitation and accessibility modifications help keep some of our state’s most vulnerable citizens in their homes,” said Scott Farmer, executive director of the NC Housing Finance Agency. “We are proud to partner with such deserving organizations to continue our work stabilizing neighborhoods and contributing to favorable economic and health outcomes statewide.”
Consumers can learn more and search for a partner offering assistance in their area at https://www.nchfa.com/current-homeowners/repair-your-home/single-family-rehabilitation-program.