Local Housing Authorities Receive Grant Money
Tuesday, May 7th, 2013 -- 8:42 AM
-The Department of Administration announced that communities across Wisconsin will receive a total of $3.2 million in Housing Cost Reduction Initiative grants.HCRI was created by the State in 1989 to provide housing assistance to low and moderate income families seeking to own or rent decent, safe, affordable housing.
HCRI grants are administered by DOA?s Division of Housing through a biennial competition. These funds are designed to provide funding for HCRI eligible activities. That includes helping eligible homebuyers purchase affordable homes by providing a down payment, closing cost, and gap financing assistance. It also includes helping homeowners prevent foreclosure by producing payments to cover mortgage, property tax, principal and interest.
A couple agencies that benefit our area received a portion of the money. The Chippewa County Housing Authority, which also serves Clark County, received 49,000 dollars. The Indianhead Community Action Agency received 69,000 dollars.
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