City Seeks Funds for Home Rehabilitation

The City Council is seeking special state funding to provide low-interest loans to help low- and moderate-income families make improvements to their homes.

“It would give an opportunity to furnish more loans for people in the city,” said May Hui, acting director of developmental services.

The city is applying for more than $287,000 in funds from the state’s Housing Rehabilitation program. If approved, the money would be available for improvements such as room additions and new roofs.

The money would enable the city to make about 20 loans of about $20,000 each at an interest rate of 3%.

Currently, the city offers loans for rehabilitation projects to only low-income borrowers. Hui said the city will be notified within the next 30 days about whether the funding has been approved.