- Homebuyer Assistance Loans
Attached to the Neighborhood Services Department, the Federal Grants/Housing Assistance Division oversees federal grants that fund programs benefiting Covington homeowners – including down payment assistance and emergency repairs – and help pay for improvements to infrastructure like roads, sidewalks, and parks.
It does this by engaging the public to help create an annual plan for those grants, primarily from the federal HOME and Community Development Block Grant (CDBG) programs.
INITIATIVES:
Homeowner Repair Program: Awards deferred, forgivable loans to help low-income homeowners with urgent home repair needs like roof leaks, water heaters, furnace repairs and replacements, and other emergency repairs.
Homebuyer Assistance Loans: Awards deferred, forgivable loans to help low-income homebuyers with lender-required down payment and closing costs.
Upper Floor Residential Rent Rehab Program: Awards deferred, forgivable loans to help property owners redevelop vacant, upper-floor space in mixed-use buildings into new, affordable rental units.
Lead-Based Paint Hazard Reduction Program: A three-year, federally funded program to protect children and vulnerable adults from potential health risks from deteriorating paint in homes and apartments built before 1978.
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