Under State law, Redevelopment Agencies are required to set aside 20% of the funds received from a redevelopment project area for the creation and preservation of affordable housing. The Redevelopment Agency for the City of Corona has traditionally accomplished this goal through implementation of housing programs that provide a wide range of assistance to improve our neighborhoods and support the needs of senior citizens and existing home owners.
Home Improvement Grant and Loan Programs
The Home Improvement Programs offer technical and financial assistance to qualified home owners to correct health and safety deficiencies and code violations. Two separate forms of financial assistance are available under the programs:
- Home Improvement Loan Program (HIP) - This program assists low- and very low- income homeowners in maintaining their property by providing a loan of up to $40,000 at 0% interest and no monthly payments. Mobile home owners may receive a loan for up to $15,000 also at 0% interest and no monthly payments. This is a loan, and it must be repaid. Refer to the Income Eligibility Table, under low income, for qualifying incomes.
- Minor Home Improvement Grant Program - Grants up to $10,000 are offered to very low-income, single-family and mobile home owners to complete minor home repairs (such as replacing faucets, broken windows, water heaters, minor electrical improvements, etc.) This is a grant, and it is not required to be repaid provided that the owner resides in the home for one year receiving the grant. Refer to the Income Eligibility Table, under very low income, for qualifying incomes.
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