Village of Wyocena Block Grant Program Community Development

HOUSING REHABILITATION

The activities described herein are funded by the State of Wisconsin, Department of Administration, Division of Housing.


What Loans Are Available?

 

  • Owner-Occupied Rehab

     

    This program will assist LMI homeowners to make needed repairs and replacements of heating systems, plumbing, electrical, siding, roof, foundation, structure, doors, windows, etc. Other improvements may include alterations or additions permanently attached to the property to maintain the home in safe, decent, sanitary conditions or meet local code standards.

     

    Applicants may apply for a 0% interest, deferred loan of at least $1,000 and an average of $9,000 for rehab. The Village may approve the loan for a higher amount. The deferred loan does not have to be repaid until you sell the house or no longer live in it as your principal residence. A mortgage will be recorded with the Columbia County Register of Deeds regarding the loan transaction and a promissory note will be held by the Village until the loan is repaid.

     

     

  • Renter-Occupied Rehab This program will assist landlords with LMI renters to make needed repairs and replacements of heating systems, plumbing, electrical, siding, roof, foundation, structure, doors & windows, etc. Other improvements may include alterations or additions permanently attached to the property to maintain the home in safe, decent, sanitary conditions or meet local code standards.

     

    Applicants may apply for a 3% interest, deferred loan of at least $1,000 and an average of $6,500 per unit for rehab. This loan will require monthly payments. The landlord will sign an agreement to rent to LMI households for 5 years or until the CDBG loan is repaid, whichever is less. A mortgage will be recorded with the Columbia County Register of Deeds regarding the loan transaction and a promissory note will be held by the Village until the loan is repaid.

     

  • Handicapped Accessibility Rehab This program is designed to assist a person with functional limitations in hearing, perception, sight, coordination, ambulation or other limiting conditions so that the person may leave or enter, move throughout, and/or use bathroom facilities. Eligible improvements include ramps for entry and egress, widening of doorways or hallways, door handle modifications, grab bars, shower stalls, and other necessary work to meet accessibility needs.

     

    Applicants may apply for a 0% interest, deferred loan of at least $1,000 and an average of $3,500 per unit for rehab. The Village may approve the loan for a higher amount. The deferred loan does not have to be repaid until you sell the house or no longer live in it as your principal residence. A mortgage will be recorded with the Columbia County Register of Deeds regarding the loan transaction and a promissory note will be held by the Village until the loan is repaid.

     

  • Homestead Opportunity This program will assist renters become homeowners. Either of two methods can be utilized. (1) The homeowner will locate an eligible property in need of rehab. The lender will determine the difference of the before and after rehab value, based on written specifications of work to be completed. The lender will allow down payment credit based on the increase in appraised value. Eligible rehab activities are the same as in the owner-occupied program. (2) If the homeowner locates a property that requires little or no rehab, CDBG monies may be used directly for up to 50% of the down payment plus closing costs.

     

    Additional funds are also available to applicants through CWCAC's Home Buyers Assistance Program.

     

    Applicants may apply for a 0% interest, deferred loan of at least $1,000 and an average of $9,000 for rehab. The Village may approve the loan for a higher amount. The deferred loan does not have to be repaid until you sell the house or no longer live in it as your principal residence. A mortgage will be recorded with the Columbia County Register of Deeds regarding the loan transaction and a promissory note will be held by the Village until the loan is repaid.

     


    What Properties Qualify?

     

    Your home must be located in the Village of Wyocena. Priority will be given to properties located within the target program area.

    In order to be considered for a loan, you must have at least one structural, plumbing, heating, electrical, substandard of accessibility problem.

    The Village must be able to take a mortgage on the house to secure the loan. In the case of a land contract, the land contract seller must agree to the loan.


    What is the Income Eligibility?

    If your total household income, calculated from all sources and all household members, is lower than the amount shown, then you are eligible to be considered for a loan.

     

      Household Size      Income
      1
          
      $22,300
      2
             25,450
      3
              28,650
      4
             31,850
      5
             34,400
      6
             36,950
      7
             39,500
      8
             42,050

     


    Application Process

     

    As applications are received, income and property eligibility will be verified. Then applicants will be contacted to arrange an inspection to determine what rehab work is needed to make the house meet Federal and local standards established for this program. Each applicant is awarded points after inspection, based on the location and condition of the home and income level of the applicant. Typically, homes needing more work and having lower income occupants will rank higher than others requiring less rehab.

     

    In general, the amount of loan varies depending upon the value of the property, the other mortgages you have, and the cost of the work that is required.

     

    The Village CDBG Committee will review all loan applications. Loan funds will be granted to projects and work specifications will be sent to contractors to get bids. The bids will be reviewed by the staff and homeowners and the homeowner will select a contract.

     

     


    Where Do I Apply?

     

    Applications may be picked up at the:

     

      Wyocena Community Center
    165 Dodge Street
    Wyocena, WI 53969

    or at

      Central Wisconsin Community Action Council
    311 E. Wisconsin
    Portage, WI 53901

     

    Or, you may contact the Village at (608) 429-2349 or CWCAC at (608) 742-3320 and an application will be mailed to you.