Monrovia : Home-Loan Ceiling Raised
The Monrovia City Council has approved an increase for the loan limits of the city’s residential rehabilitation program from $15,000 to $27,500, subject to a review by a council subcommittee of any loan above $15,000. Currently the city has $290,000 in federal Community Development Block Grant funds for loans to a maximum of 30 residents.
While the funds cover both interior and exterior rehabilitation, the city is most interested in improvements to the exterior of homes to enhance the community, said Don Hopper, community development director.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
