Home Improvement Loans Offered Through CRA

Residential property owners in the Pico-Union I Redevelopment Project area can apply for low-interest improvement loans for their properties through the city’s Community Redevelopment Agency.

Loans at 3%, 5% and 7% interest are available through the CRA for property owners to fix roofs, faulty plumbing, electrical systems and damaged foundations, to paint the exterior and interior of their properties and to make other repairs and improvements. The amount of each loan varies with the value of the property, CRA spokesman Chuck Sifuentes said.

The loans are available to apartment building owners as well as homeowners, and can be used for earthquake repairs or to upgrade the physical appearance of their properties.

Grants of up to $7,500 are also available for exterior improvements such as landscaping, fencing and sprinklers.

The redevelopment project is bounded by Olympic Boulevard, the Santa Monica Freeway, the Harbor Freeway, and Union and Burlington avenues.

Information: (213) 385-6421.