FOREST CITY | Two new programs will help low and moderate-income residents of Forest City with housing-related costs.
The City Council last week approved the new programs proposed by the Forest City Housing Commission:
• A Low-Income Qualified Housing Repair Grant program that will award matching grants of up to $1,000 per qualified household.
• A Workforce Manufactured Housing Development Improvement program that will award loans of up to $5,000 to help low-to-moderate income residents purchase mobile homes.
City Administrator Barb Smith said the housing repair grants will help financially struggling homeowners pay for fixing windows or doors and other necessary repairs.
Those who apply for the housing repair grant program must provide proof of matching funds.
"We don't expect it to come out of their pockets," Smith said.
Instead, the matching funds will come from organizations such as the Forest City Ministerial Association.
Smith said city officials hope to expand the program if it is popular.
The $5,000 loans through the manufactured housing development program will go toward down payments on new mobile homes.
The mobile homes must be occupied by the purchaser and be located within Forest City. They can't be more than two years old and must have at least two bedrooms.
The loans will be issued at no interest for 10 years, with no penalty for early payoff.
Any remaining balance is due upon sale of the mobile home if sold prior to the end of the 10-year term, or if the mobile home is moved out of Forest City.
Smith said space is availalbe at Greenfield Estates for more mobile homes.