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HOME Program
The City of Stamford is making available its sixth allocation of funding in the amount of approximately $450,000 from the United States Department of Housing and Urban Development (HUD) under their HOME Investment Partnership Program. Projects are rated relative to City priorities: - Highly leverage the HOME funds with private investment. This may be in the form of owner/sponsor cash and in-kind, equity and private financing or contributions.
- Expand the housing stock or preserve endangered existing housing
- Use of HOME funds for housing user groups which are in great need and have been disproportionately served by previous housing programs. Currently, critical need exists for 2+ bedroom units.
The maximum available amount is $15,000 per unit, loaned for 30 years with no interest or principal due until the end of the loan.
Lead Hazard Abatement Program
The City has received funds to assist property owners abate lead paint hazards. These funds are made available, up to $15,000 per unit, for fifteen years, no payment of principal or interest. If the owner matches the lead abatement funds, the loan is forgivable over a 15 year period with 6% of the loan forgiven each year. Funds from this program cannot exceed the cost to lead paint hazard work, and can be combined with HOME funds.
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