Pilot Program: Grants and Loans for Whole-Home Repairs and Housing Affordability.
This Act establishes a pilot program providing grants to low-income homeowners and forgivable loans to small landlords for essential home repairs. The goal is to improve safety, accessibility, and energy efficiency in housing units across the country. For renters, the program introduces protections like capped rent increases and mandatory 3-year lease extensions in assisted properties.
Key points
Low-income homeowners (up to 80% of area median income) can receive grants for critical repairs, including safety upgrades, accessibility modifications for disabilities, and energy efficiency improvements.
Small landlords (owning fewer than 10 properties) can receive forgivable loans if they agree to cap annual rent increases (5% or inflation, whichever is lower) and offer tenants 3-year lease extensions.
The program aims to make homes safer, healthier, and more affordable, utilizing up to $25 million in initial funding until the program terminates in October 2029.
Status:
Expired
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