The Illinois Housing Development Authority has been busy working with cities across the state on housing grants to help low income families not only purchase new homes, but also to update and renovate homes that they already have. A couple of months ago it was Pekin, and now Charleston has received housing grants.
This time the amount of the state grant is $337,000, and it’s to fix up 8 single-family homes that are currently occupied by low income residents. Applications must go through the Coles County Regional Planning and Development Commission, which administers the program for the city. The grants can be used for anything as long as it improves the quality of the home. It will be booked as a forgivable loan, meaning the loan payment will not go into affect until 10 years after the upgrade, and if the owner stays in the house, the payment won’t have to be paid back.
Residents who are thinking about applying for the grant should meet with either contractors or home improvement companies to determine how best to use any money they might receive. There shouldn’t be an expectation that everything can be done, and it’s always important to address the most important issues first, cosmetic or not. A professional can help you make sure you get the biggest bang for your buck, and having a full estimate of the work you need done on your house will go a long way towards helping you to secure one of these grants.
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Mitch writes on real estate, finance, and many other things. 
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