Historical April 1983 report or notice. Original dates, prices and contacts describe the source period; current availability has not been established.
The Urban League of Metropolitan St. Louis has limited money still available through the Homeowner’s Assistance Program to provide low interest home improvement loans for St. Louis City homeowners.
The program is funded through a $1.4 million grant from the Community Development Agency (CDA).
The program is designed to assist low and moderate income homeowners to make needed repairs and to provide preventive home maintenance.
The long-range goals of the program are to lessen the decline . of the city’s existing-housing stock, preserve salvageable properties and create conditions that will stimulate new investment and support-to the city’s economy. Low-cost home improvement loans will be provided to owner occupants of one to four family residential properties located in target areas designated by the city. [The entire SDCC area (as far east as DeBaliviere) is covered by this program. Ed.] The loans are made more affordable through a subsidy that reduces the interest rate paid by the borrower.
All subsidies are determined by the total gross household income: ‘ 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 up to $30,000 for four-family residential units.
The maximum time for repayment of the loan is 10 years.
All applications must first be submitted to the Urban League to determine program eligibility. Individual applicant information will be reviewed by participating lenders to verify credit information and to determine if income is sufficient to repay the loan. Program eligibility requirements, application information and other materials may be obtained between 8:30 a.m. and 5 p.m., Monday through Friday from: Homeowner’s Assistance Program Urban League of Metropolitan St. Louis 1408 N. Kingshighway, Room 211 St. Louis, Mo. 63113 For additional information contact the Urban League, Housing Department, at 361-0455.
The project is administered by the Urban League of Metropolitan St. Louis, and financed through a grant from the Department of Housing and Urban Development Agency under the provision of Title I of the Housing and Community Development Act of 1977 (as amended).
Originally published in The Paper, April 1983.
Read this article in the original newspaper issue.
Original source: SD_Times1983_04.pdf, printed page(s) 4; PDF page(s) 4.
