PRESS RELEASE #7-05 Homeowners in the downtown area will soon benefit from a $400,000 grant the City of Chino has received from the State of California's Housing and Community Development's CalHome grant program.
"This money will be well used in the downtown area," said Mayor Dennis Yates. "Residents currently benefiting from the program have replaced roofs, flooring, windows, done kitchen remodels and more. Qualified applicants will benefit from zero-interest fully deferred loans for either 30-years or the lifetime of the first mortgage, whichever is longer, which is a fabulous deal, said the Mayor.
Earlier this year, in an effort to support and expand the City's Home Improvement Program, the City's Housing Division submitted a CalHome an application to the State requesting $400,000 in grant funding under the CalHome Program. Late last week, the City received a "life-size check" in the amount of the full $400,000.
This is the second time the City has been a recipient of this grant. In 2001, the City was awarded $500,000, which was funneled into the community through the City's Home Improvement Program.
"The best part about this program is that the money is never fully exhausted," said Mayor Yates. "When the initial loan is repaid upon the sale of the home or refinancing of the mortgage, the proceeds are plugged back into the Home Improvement Program to assist additional Chino Homeowners."
To apply to the Home Improvement program, please visit the City's website at http://www.cityofchino.org/.
Michelle Van Der Linden, Public Information Officer, Administration Department 909-591-9803
mvanderlinden@cityofchino.org
David Hood-Realtor
Chino, CA
Office Phone: (877) 380-7992
Cell Phone: (909) 972-5569
Visit our web site Chino Real Estate
Comments (0)Subscribe to CommentsComment