BEAVER COUNTY HOME IMPROVEMENT PROGRAM

(H.I.P.) 

            Due to the age of the housing stock in Beaver County and recognizing the importance it has on the economic climate of the County, and the effect an aging, deteriorating housing supply may have on the community, the Beaver County Board of Commissioners have made a substantial commitment to maintaining and preserving the existing housing stock.  This commitment is evidenced through the use of the County's Community Development Block Grant funds for the Home Improvement Program (HIP).  The objectives of HIP are to stabilize the housing stock by providing rehabilitation assistance to eligible residents within Beaver County.  Through this approach, the County hopes to arrest physical decline of the housing stock and thereby promote the economic vitality of Beaver County communities. 

            The Beaver County Home Improvement Program was created in order to provide financial assistance to eligible owner/occupants of residential housing for the rehabilitation of their homes.  This financial assistance is offered in the form of a 0% Interest Loan/Deferred Payment Grant, which will be secured by both a 0% Interest Mortgage and a Promissory Judgment Note with concurrent terms of six years each.  The amount of the assistance will vary across a three tier system based upon household income and is to be used to return the housing unit to a code compliant condition with a secondary emphasis on energy conservation.  The tier structure is as follows:

Tier #1 Households (household income < 30% of median income): 
- are eligible for a maximum $10,000.00 % Deferred Payment Grant 

Tier #2 Households (household income < 50% & > 30% of median income):
- are eligible for a maximum $12,500.00 Grant/Loan combination
- 70% of the assistance is in the form of a % Deferred Payment Grant
- 30% of the assistance is in the form of a repayable Loan

Tier #3 Households (household income < 80% & > 50% of median income):
- are eligible for a maximum $15,000.00 Grant/Loan combination
- 50% of the assistance is in the form of a % Deferred Payment Grant
- 50% of the assistance is in the form of a repayable Loan

 The two components of this assistance include a 0% Interest Deferred Payment Grant and a 0% Interest Loan.  Each component will fund the respective amount of the total cost of the rehabilitation measures.  The Grant portion of the assistance will not require repayment contingent upon the recipient(s) maintaining ownership of the property for a six (6) year period.  These funds will be secured by filing a Mortgage in the Recorder's Office of the Beaver County Courthouse.  In the event that the property is sold or transferred within the prescribed six (6) year period, a prorated amount will be required to be reimbursed to the Beaver County Home Improvement Program. 

            The Loan portion of the assistance will require equal, interest free, monthly payments be made for a period of six (6) years equal to the respective total of the rehabilitation costs.  These funds will be secured by filing a 0% Interest Mortgage in the Recorder of Deeds Office of the Beaver County Courthouse.  The Housing Authority of the County of Beaver will solicit the services of a prominent, local financial institution for the purposes of collection and financial tracking and accountability of these monthly payments. 

            The Housing Authority of the County of Beaver, Housing Rehabilitation Division is responsible for determining the scope and extent of the rehabilitation work to be performed.  In certain instances, dependent upon the existing condition of the structure, the HACBHRD may undertake only the correction of code violations and the remainder of the available funds will be reprogrammed into the current year program enabling the County to assist more homeowners. 

            The Home Improvement Program can address owner/occupied residential structures throughout all of Beaver County.  Financial eligibility is determined, and cannot exceed the income limits as established by Section 8 Low/Moderate Income levels as prescribed by the US Department of Housing and Urban Development.  Financial eligibility is based upon household income and the size of the household.  These figures are updated annually.

Effective Date:   3/8/09

            Due to the growing demand for participation in HIP, recipients of the 0% Interest Loan/Deferred Payment Grant will be determined by a lottery drawing at the beginning of each program year (September).  Pre-applications, which must be completed and submitted to the HACBHRD,  for inclusion in the lottery drawing will be made available starting each August

hacbcl@nauticom.net

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