Related Files:City Of Cranston Disaster Recovery Action Plan - Amended 01032013 Closing Costs Guidelines Down Payment Guidelines DR Qtrly Performance Reports - July - September 2013 DR Qtrly Performance Reports - April- June 2012 DR Qtrly Performance Reports - April- June 2013 DR Qtrly Performance Reports - January - March 2012 DR Qtrly Performance Reports - January - March 2013 DR Qtrly Performance Reports - July - September 2011 DR Qtrly Performance Reports - July - September 2012 DR Qtrly Performance Reports - October - December 2011 DR Qtrly Performance Reports - October - December 2012 Employment Opportunity - Contractors For Residential Rehab Program - Add Employment Opportunity - Contractors For Residential Rehab Program - Application Quarterly Performance Report for Cranston's Disaster Recovery Grant for the quarter ending 12/31/12 Rehab Program Guide 2010
The City of Cranston has been awarded a Community Development Block Grant from the U. S. Department of Housing and Urban Development in the amount of $ 935,648 for fiscal year 2012-2013. These funds will be used to support a wide range of activities specifically targeted to benefit persons of very low and low income. HUD income limits according to household size are listed below. Program examples supported by these CDBG funds include housing rehabilitation, emergency fuel assistance, minority outreach health programs, Adult Day Care and a Mayor’s Scholarship Program.
Housing Rehabilitation Loan Program
This program provides low-interest loans to income eligible Cranston homeowners to assist them in making needed repairs and improvements to their homes and to correct code violations. Program is available for single family to three family buildings and property must be owner occupied. Typical improvements include roofs, vinyl siding, replacement windows, doors, and gutters. Depending on an applicant’s household income, this loan program includes a 0% deferred or a 2% interest loan with a 15 year amortization.
Funds can not be used for new construction.
First Time Home Buyers Programs
The Department of Community Development offers two programs for first time income eligible home buyers purchasing a home in the City of Cranston. The assistance given at time of closing becomes a grant after homeowner has resided in the property for five years.
Closing Cost Assistance Program
This program is available to first time income eligible home buyers to help defray some of the fees incurred at closing. This five year grant will provide up to $3,000 toward closing costs.
Down Payment Assistance Program
The Down payment assistance program provides 50% of the required down payment, not to exceed $5,000. This matching fund program is available to first time income eligible homeowners but can not be combined with the Closing Cost Assistance Program.
FOR FURTHER INFORMATION OR TO APPLY FOR THESE PROGRAMS,
PLEASE CALL FRAN FALCONE AT 401-461-1000 EXT 7205 or E-Mail at firstname.lastname@example.org