I was in a diner yesterday in another part of the state and I saw a flyer on their bulletin board that was put up by a reputable area mortgage company for rehab grants. The grants were sponsered by the state of CT and for up to $20k on a sfh and $25k on a 2-4mfh. Anyone ever hear of this? It was in New London and specifically mentioned New London, not sure if this is a local thing for that town only or not. If you’re interested you have to go to a meeting on I think 1/23. I’ll grab the flyer and post details when I have a chance to go out to my car. Anyone ever hear of something like this?
My educated guess is that it is local incentive offered by your state’s housing finance agency.
You might want to contact the agency directly to learn more:
Connecticut Housing Finance Authority
999 West Street
Rocky Hill, CT 06067
(860) 721-9501 - Phone
(860) 571-4367 - Fax
I would be interested, I wish MA did that!
Who says they don’t (I’m from MA too; Worcester County and you)?
Mass Housing has some interesting development programs (check out http://tinyurl.com/24w2eq) and they very well might have a rehab program as well. Check out and let us know:
One Beacon Street
Boston, MA 02108
(617) 854-1000 - Phone
(617) 854-1029 - Fax
(617) 854-1025 - TTY
I contacted them when I was going to rehab a 48 unit in Springfield, they were more then willing to fund it but didn’t offer any grants.
There are a handful of non-profit DPA cos. that assist with grants for mixed use and commercial property, but they are limited to down payment assistance (not rehab)…
Some neighborhoods in San Diego have similar programs. They offer up to $15,000 for interior repairs and up to $10,000 for exterior repairs at 3% simple interest. The caveats are that you either have to live in the property for 5 to 10 years or resell the property to someone that makes less than 100% of the neighborhoods median income (which pretty much means that they can’t afford to buy a house in San Diego).