Historical June 1982 report or notice. Original dates, prices and contacts describe the source period; current availability has not been established.
The Skinker-DeBaliviere Community Council has been informed by the Urban League that they are now processing applications for low interest home improvement loans and grants.
This two component program is funded by a $1.4 million grant from the Community Development Agency (CDA) and is designed to lessen the decline of the city’s existing housing stock, preserve salvageable properties and create conditions that will attract new investments to the city.
In the program’s loan component, low cost homeowner improvement loans will be provided to owner occupants of one to four family residential properties located in the area bounded by Delmar, DeBaliviere, Forest Park, and Rosedale.
The loans are made more affordable through a subsidy that reduces the effective interest rate paid by the borrower.
All subsidies are determined by the total gross household income regardless of family size: Interest Rates Income Levels 3% Under $16,799 6% $16,800-$21,599 9% $21,600-$30,000 The maximum loan amount is $20,000 for one- and two-unit residential dwellings and $5,000 for each additional unit not to exceed four units.
The maximum term is 10 years.
The maximum income level for participation in the program is $30,000.
All loan applications must be submitted to the Urban League to determine program eligibility. Loans will be reviewed by participating lenders to verify credit information and for underwriting purposes. Participating lenders are American National Bank, City Bank, Gateway National Bank and Tower Grove Bank.
The grant component of the program will provide grants in the form of labor and materials to low income, elderly (62 years old or older) and disabled homeowners.
Not to exceed $5,000, these grants are to be used for building code related emergency repairs only. Program eligibility requirements, application information and materials may be obtained for both HAP components between 8:30 a.m. and 5 p.m., Monday through Friday from Homeowner’s Assistance Program, Urban League of Metropolitan St. Louis, Inc., 1408 North Kingshighway, Suite 211, St. Louis, Missouri 63113.
For additional information contact the Urban League Housing Department at 361- 0455.
It would be appreciated if SkinkerDeBaliviere residents who apply would call the SDCC office at 862-5122 and let us know how you fared; we are maintaining a record of the program’s success in our neighborhood.
Originally published in The Paper, June 1982.
Read this article in the original newspaper issue.
Original source: SD_Times1982_06.pdf, printed page(s) 1; PDF page(s) 1.
