wooster wayne chip brochure 2014
DESCRIPTION
Grants and Partially-Forgivable Mortgages will soon be available to low-to-moderate income Wayne County residents working to rehabilitate their homes. The City of Wooster and Wayne County were informed by the Ohio Development Services Agency on August 26, 2014 that its competitive application for $850,000 in funding for a Community Housing Impact and Preservation Program, has been awarded.TRANSCRIPT
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ABOUTCHIPAQuickBackgroundIn 2014, the City of Wooster and Wayne Countyteamed up as a Partnership to apply for and winfunding for a Community Housing Impact andPreservationProgram,or simply,CHIP.TheStateofOhio provides a combination of Federal and StatefundstothePartnershipfortheprogram.
As in past years, theWayneMetropolitan HousingAuthority is the consultant for the City ofWoosterandWayne County Partnership, and is available tohelp residents,homebuyers,and landlordswithanyquestionstheymayhaveaboutCHIP.YourHouseholdQualifies for these Programs if itsAnnualIncomeisUndertheFollowingfor2014:Household
SizeHomeownership&Rehabilitation
AllPrograms+HomeRepair
Number ModerateIncome LowIncome1Persons $32,700 $26,5692Persons $37,400 $30,3883Persons $42,050 $34,1664Persons $46,700 $37,9445Persons $50,450 $40,991
Moderateincomelimitsrepresent80%ofthemedianhouseholdincomeforWayneCountyin2014.LowIncomeisconsideredtobe65%ofmedianhouseholdincome.Forlargerfamilies,pleaseconsultwithCHIPAdministrator.Limitssubjecttochangefromyeartoyear.PRIVATEREHABILITATIONForHomeownersOwningSingleFamilyHomesThisprogramhelpshomeownerswith rehabilitatingsinglefamily homes. A single rehabilitation mayentail several projects, such as plumbing upgrades,roofrepairs,removalof leadbasedpaint,repairstosiding,electricalupgrades,andotherrepairsneededtomakeahomesafeandsecure.Homeownerswhoqualify(pleaseseethechartabove)willreceiveafiveyeardeferred(nointerest)loantomaketherepairs.17%ofthe loan is forgiveneachyear for fiveyears.Theremaining15% isonlydueoncetheownersellsorstopsresidinginthehome.
HOMEOWNERSHIPASSISTANCEForFirstTimeHomebuyers*This exciting program offers a deferred (interestfree) loan to help future homeowners seeking topurchaseand repairahome,with8.5%of the loanforgiveneachyear for10years.The last15%oftheloan is only payable when the owner moves out.(*Householdswhohavenotownedhomesinthelastthreeyearsarealsoeligible.)Typically,thisloanisinadditiontoabasicmortgage.Thoseinterestedintheprogram take a singlehomeownership class at theOhio State University Extension in Wooster, andreceiveexpertinspectionsbycertifiedCHIPstaff.HOMEREPAIRForLowIncomeSingleFamilyHomeownersThis grant helps lowincome residents withemergency repairs needed to make their singlefamilyhomessafe.Thegrantcoverssingleprojects,such as repairing septic systems, leaking roofs, andheating systems. This grant is available as long asfundingallows.PRIVATERENTALREHABILITATIONForLandlordsRentingToLow/ModIncomeTenantsThis program is made available to landlords whoagreetorenttotenantsearning lessthan80%areamedian income.Landlordscover25%oftheproject.Theremaining75%iscoveredbya10yearforgivable/deferred loan, forgiven 10% yearly until fullyforgiven.BeforeandAfterImagesofaRecentCHIPProject
ACHIPRehabilitationProjectbefore(Left)andafter(Right)
AWayneCountyHomerecentlyimprovedwithCHIP
GETTINGSTARTEDThefirststepistocontacttheCHIPAdministratortoprovide answer a fewprequalifyingquestions. Youwill then be asked to schedule an appointment toreviewtheapplicationmaterials.
Byprovidinganapplication,youwillbeagreeing toabidebytheprogramsrulesandgivepermissionfortheCHIPprogram toconfirmyour information.Youmayalsoneedtoprovidebankstatements,mortgagepaymenthistories, andproofof income in additiontosocialsecuritycardsand/ordriverslicenses.
TheCityofWoosterandWayneCountyeachhaveaProjectReviewCommitteethatwillthenreviewandrank all applications. Home Repair projects areawarded as long as funding allows. PrivateRehabilitation, Homeownership Assistance, andRental Rehabilitation programs are awarded to theprojectsdemonstratingthegreatestneed.
CHIPAdministrator:TanyaSargeantConsultantfortheCityofWoosterWayneCountyCHIPPartnershipPhone:[email protected]
Office:345N.MarketStreet,Wooster,Ohio
ThankYou!