Housing Task Force
Central Neighborhood needs secure, safe, affordable housing.
Our purpose is to work for housing stability of Central residents. Historically focused on providing grants and low interest loans to low income home owners, CANDO is also working to support the needs of renters in Central.
Our strategies: organizing community members around housing quality and affordability issues. Marketing housing grants and loans to community members in need.
Questions? Want to get involved? Come to our next meeting or email email@example.com.
(Almost) Every Monday 5:30pm @CANDO
We will have working meetings Mondays from 5:30 to 6:30 except the last Monday of the month which is a staff meeting.
Join us as we move forward with plans for a database of landlords in Central with commitments to responsiveness, respect and affordability as well as other strategies to make rent affordable in Central.
Renters, property owners and all others are welcome to attend. If you need childcare or translation, please contact us as soon as possible. Emails and phone call reminders are being made; if you would like to be on our list or if you have any questions, please email us at firstname.lastname@example.org.
Proposed Landlord Review Form
Central Area Neighborhood Development Organization (CANDO) has developed a draft document of what our proposed Landlord Review system might look like and the questions it will ask. It focuses on five areas: Maintenance, Flexibility, Privacy, Organization, Communication, Respect / Trustworthiness.
A link to review the draft can be found at https://drive.google.com/open?id=1o5cFxfMsNM8CJTt8OQnNR70YupMR7iaekY3H0-sPZYs
Please provide us feedback in-person during our regular meetings or via email at email@example.com
Housing Loan/Grant Programs
CANDO's Housing Loan and Grant programs are back!
We are now working with Center for Energy and Environment to service our loan programs again. Brief program information is below. Please note other restrictions may apply.
Revolving Loan Program AKA low-interest home-improvement loan
Interest Rate 3%. Income Limit 80% of AMI. Loan Amount Max: $35,000. Debt to Income Ratio limit 55%. Loan to Value Ratio 110%. Ineligible Improvements: luxury or recreational, funds for working capital, debt service, refinancing existing debts, or work initiated prior to the loan application being received by the program administrator. Loan funds cannot be used for the purchase of tools or equipment. Underwriting / Credit Requirements: Borrowers must be current on housing payments and property tax payments. CEE will approve or deny loans based on a credit report, income verification and other criteria. No bankruptcy in 18 months. Max. 3 ‘90 day lates’ Multiple Bids Minimum of 1 bid for each project less than $5,000 and two bids for each project over $5,000. Work completion within 120 days of closing.
Income Limit 80% AMI .Grant Amount Min: $500 Max: $5,000. Multiple loans per property Yes, combined max: $5,000. Eligible Properties: Residential 1-4 units & do not qualify for the Revolving Loan Program. Must be Owner-Occupied. Eligible repairs are determined by CEE rep analysis. Some examples may include: major mechanical system failure, roof failure, foundation failure, radon, mold and asbestos mitigation, sewer failure and/or other health/life-safety hazards. Definition of an emergency: an imminent condition that makes the house uninhabitable, or imminently threatens the health/life-safety of the occupants. Borrowers must be current on housing payments and property tax payments. Bids minimum of 1 bid for each project less than $5,000 and two bids for each project over $5,000. Work Completion within 60 days of grant closing.
Deferred Down-payment/Purchase Program
Income Limit 80% of AMI. Grant Amount $5,000 or up to $10,000 for vacant properties. Must be owner-occupied.
After 10-years the loan is 100% forgiven. Eligible Properties 1-4 unit residential. Debt to Income Ratio limit 55%. Loan to Value Ratio 110%. Must register and complete pre-purchase Homebuyer Education Program prior to closing. Eligible Use of Funds Down-payment or closing cost related to the purchase of the subject property.
Other organizations that may be able to offer support: