Home restoration projects can be financed through grants.
There are programs available that sponsor grants for home restoration projects. The restoration of homes can be completed through construction, renovation and repairs. Grant funds are used to cover the costs of these projects. Although grants typically are not required to be repaid, some grant programs can recoup funds, if recipients fail to satisfy their obligations.
Housing Preservation Grants
The Housing Preservation Grant (HPG) program provides financial awards to cover the costs of home renovation and restoration projects. This grant program is open to communities with less than 20,000 residents. Homeowners, landlords and co-op manager can apply for grant funds. Grants also are available to rental property managers, whose rental units are available to low-income residents. Eligible sponsors of the grants include nonprofit organizations as well as state, local and tribal agencies. Recipients have two years to use grant funds.
Housing and Community Facilities Programs National Office
U.S. Department of Agriculture
Room 5014 South Building
14th Street and Independence Avenue SW
Washington, DC 20250
202-720-9619
rurdev.usda.gov
Multi-family Housing Revitalization Program
The Multi-family Housing Revitalization Program is funded by the U.S. Department of Agriculture (USDA). This program provides grants to preserve and revitalize rental and farm housing properties. These grants are open to owners and buyers of rental and farm housing units. Recipients must sign a restrictive use covenant that stipulates that the property will only be used as low-income housing for at least 20 years.
Cynthia L. Johnson
USDA
Rural Development
Preservation and Direct Loan Division Attention:
1400 Independence Avenue SW
Mail Stop 0782
Washington, District of Columbia 20250-0781
202-720-1940
rurdev.usda.org
Very Low-Income Housing Repair
The Very Low Income Housing Repair program, sponsored by the USDA, provides grants to renovate, repair, modernize and restore homes to make them safer and more sanitary. These grants cover the costs of improvements, which may include removing any health and safety hazards from the home. Grant amounts can reach just under $10,000. Applicants who are 62 years of age or older, and cannot afford to repay loans, are eligible to receive grant funds. However, recipients are prohibited from selling the property for which the grants were used, for three years the grant has been awarded. If the property is sold, the program can ask the grant recipient to repay the grant amount.
Housing and Community Facilities Programs National Office
U.S. Department of Agriculture
Room 5014 South Building
14th Street and Independence Avenue SW
Washington, DC 20250
202-720-9619
rurdev.usda.org
Tags: cover costs, Department Agriculture, Independence Avenue, restoration projects, rurdev usda, 14th Street, 14th Street Independence
