CAECI Community Action of East Central Indiana, Inc.

OWNER OCCUPIED REHABILITATION

The Owner Occupied Rehabilitation program is administered and implemented by Community Action of East Central Indiana, Inc. (CAECI). The program is offered to owner-occupied households located in the Counties of Fayette, Wayne, and Union through grant funding from the Indiana Housing and Community Development Authority (IHCDA).

The program is targeted towards homeowners who might not otherwise have the money or resources needed to repair their homes. The emphasis is on helping homeowners keep their homes up to safe, decent and affordable standards. Maintenance that is required due to code violations, safety hazards or structural damage is the focus of the program. Examples of home repairs include roofs, furnaces, doors, septic systems, plumbing, floor repair, and electrical wiring. Please Note: All housing rehab activities will be replaced with like style/standards. No upgrades!  All work is awarded through a bid process and will be performed by approved contractors who have requested to be placed on the CAECI Bidder’s List.

The housing rehabilitation program is designed so that the assistance for homeowners will be based on a “grant” which is structured as a deferred forgivable loan. The loan will be forgiven in equal yearly amounts. If the homeowner does not occupy the residence throughout the affordability period, certain restrictions will apply.

To secure the housing rehabilitation investment, a lien or restrictive covenant is placed on the homeowner’s property and is filed with the County Recorder’s Office for the duration of the forgivable loan term. This is determined by the total amount of rehabilitation assistance.

To be considered for eligibility the household must be at 125% of HHS Poverty Guidelines and have a member that is either  elderly (62+), a child under age 6, or disabled.  The dwelling must be owned outright or being purchased through conventional loans and the taxes must be current. Mobile homes will not be considered eligible for any rehabilitation activity. Eligible homes cannot be located in a 100 year flood plain.

Fair Market Value of the home cannot exceed $172,632.