Montpelier announces housing preservation grants to low-income flood victims

Source: VT Digger, Press Release from the City of Montpelier, 6/28/11 FOR IMMEDIATE RELEASE Contact: Ken Russell, Interim Community Development Specialist City of Montpelier June 28, 2011 City of Montpelier Announces Availability of Housing Preservation Grant Loans in Wake of May Flood In the wake of the floods that hit the City of Montpelier on May 27th, the City of Montpelier is announcing the availability of Housing Preservation Grant, or HPG, loans to low income homeowners who were affected by the flood or have other housing rehabilitation needs. These funds are offered at zero interest and are available to those who are unable to find financing with other sources. “We hope that homeowners who qualify are able to take advantage of this program,” said Montpelier Mayor Mary Hooper, “It’s a great opportunity and it is part of the resilience of our city in facing its challenges. The City was very concerned about the impact of the floods on both businesses and homeowners. We have been happy that community members and institutions have rallied to help our neighbors, and are eager to do our part.” The Housing Preservation Grant Program is administered by the Community Development office in the City of Montpelier using funds offered through a grant of the USDA Rural Development agency. Through its twenty-four year history with the City, it has assisted over 100 residents with the rehabilitation of their homes. Homeowners do not need to be affected by the May floods in order to participate, but they do need to meet income guidelines for low income households and to currently inhabit their homes. A family of four living in the same household can earn up to $54,100, and still qualify for these loans. “This is a great program for the City of Montpelier,” added Hooper, “with all our beautiful old buildings, we enjoy both the charm and the responsibilities of maintaining an old housing stock. The HPG loan program is a key piece of that work.” Any interested homeowners should contact Ken Russell, Interim Community Development Specialist Ken Russell at the City of Montpelier. Phone:  (802) 223-9506

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