May 23, 2022 – Through a partnership with Land of Lincoln Credit Union, The City of Decatur is offering an owner-occupied rehabilitation grant program to provide access to capital for landlords to rehabilitate their rental homes.
The Community Development Department will begin accepting pre-applications on Tuesday, May 24, 2022 through July 8, 2022. Residential properties eligible for the program have to be within one of the targeted neighborhoods within the city’s urban core. You can see a map of those targeted neighborhoods HERE.
The city says the Owner-Occupied rehabilitation program will be a targeted lottery system. Homeowners will have to complete a pre-application, reside within the targeted neighborhoods and be drawn from the lottery before being approved. Homeowners can apply in person at Decatur Civic Center, 3rd floor, Community Development Department, or online HERE.
Eligible activities for the owner-occupied rehabilitation program includes, but not limited to:
· Roofs, porches, and exterior stairs/steps
· Foundation and structural improvements
· Accessibility improvements for occupants with disabilities.
· Repair/replacement of mechanical systems
· Lead remediation
· Exterior painting, trim and or fascia
· Tuck point, masonry
· Driveways and retaining walls
The Landlord Home Improvement Loan Fund will provide access to capital for landlords, which in many cases, are unable to get a traditional loan for home improvements due to the value of the home being less than the loan amount needed for rehabilitation. Landlords can submit up to two properties for rehabilitation during the program period.
The Contractor’s Loan Fund will provide access to capital for small contractors that may not have the cash flow for payroll, materials, supplies, transportation, lodging, etc., to take on the owner-occupied rehabilitation program. The city says this will help small contractors build personal credit and build their capacity as a business, which the city says is critical to the success of its housing initiatives.
“This program exemplifies the City Council’s commitment on moving the needle for neighborhood revitalization. It is not only an investment in brick and mortar, but it is also an investment in the people of Decatur,” stated Cordaryl “Pat” Patrick, Director of Economic and Community Development. This program is one of many that we will be launching to address our housing challenges utilizing American Rescue Plan Act funds, which we believe will make Decatur a safer and more attractive place to live, play and do business,” he added.
