USDA Awards Grants to Preserve Affordable Rural Housing
TEMPLE, TX, September 6, 2016 – U.S. Department of Agriculture’s Rural Development Under Secretary Lisa Mensah today announced grants to preserve and repair affordable housing for very low and low-income families living in rural areas.
“Many rural property owners struggle to afford the upkeep and repairs to their apartments, especially since the units get older and need more work,” Mensah said. “These grants will help them make these repairs and upgrades. This funding will go a long way toward preserving the supply of safe, affordable rural housing.”
USDA is awarding $239,600 in Housing Preservation Grants to 5 organizations in Texas. The grants will renovate 36 rural homes. They can be used to remove health and safety hazards, make homes more energy efficient, and modernize the units. Eligible recipients include local governments, public agencies, federally recognized Indian Tribes, nonprofit organizations and faith-based and community groups. They distribute the grants to homeowners and owners of multi-family rental properties or cooperative dwellings who rent to low- and very-low-income residents. The organizations receiving the grants determine which local projects to support.
“The cost of maintaining a home is challenging for many rural homeowners,” said Paco Valentin, USDA Rural Development State Director. “Rural Development Housing Preservation Grants help families with limited incomes preserve their housing and improve their living conditions. The program also boosts economic activity for housing contractors in the countryside who are hired to make the home upgrades and repairs.”
Panhandle Community Services, the City of Taylor, the Village of Vinton, Tierra Del Sol, and Jim Hogg County all received Housing Preservation Grants to be used to rehabilitate housing units in their prospective rural areas.
Funding for all awards is contingent upon the recipients meeting the terms of their grant agreement.
USDA has provided $51 million in Housing Preservation Grants since the start of the Obama Administration. These grants have leveraged more than $184 million to repair and rehabilitate nearly 13,000 homes and apartments in rural communities.
Since 2009, USDA Rural Development (@USDARD ) has invested $11 billion to start or expand 103,000 rural businesses. They helped 1.1 million rural residents buy homes, funded nearly 9,200 community facilities such as schools, public safety, and healthcare facilities. They also helped bring high-speed Internet access to almost six million rural residents and businesses. USDA also has invested $31.3 billion in 963 electric projects that have financed more than 185,000 miles of transmission and distribution lines serving 4.6 million rural residents. For more information, visit www.usda.gov/results.
TEMPLE, TEXAS, September 1, 2016 – Texas USDA Rural Development has announced the implementation of an interest rate decrease for the Single Family Housing Direct Loan Program effective September 1, 2016. The new rate of 2.875% will be at an all-time low.
“USDA Rural Development is pleased to assist rural Texans in meeting their housing needs, a critical goal of the long-term sustainability of our communities,” said Paco Valentin, USDA Rural Development State Director.
This program assists low- and very-low-income applicants obtain decent, safe and sanitary housing in eligible rural areas by providing payment assistance to increase an applicant’s repayment ability. Cash assistance is a type of subsidy that reduces the mortgage payment for a short time. The adjusted family income determines the amount of aid.
USDA, through its Rural Development mission area, administers and manages housing, business and community infrastructure and facility programs through a national network of state and local offices. Rural Development programs are designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America.
Further information on this program is available by visiting USDA’s web site at http://www.rd.usda.gov/tx For local information, verification of area eligibility and application assistance, determine your local office by visiting http://www.rd.usda.gov/contact-us/state-offices/tx or call the Texas State Office at (254)742-9770.