Habitat for Humanity of Springfield, MO (HFHS) was awarded a $750,000 grant to complete much-needed improvements for 40 homes in Springfield.
Funded by the Federal Home Loan Bank of Des Moines (FHLB Des Moines) Competitive Affordable Housing Program (AHP) and its member bank, Guaranty Bank, the grant will be distributed through Habitat for Humanity’s home repair program, Creating Healthy Homes (CHH).
Repair work for CHH projects are completed by professional contractors. Repairs include the repair or replacement of roofs, mechanical systems, windows, doors or siding; the repair or upgrading of plumbing or electrical systems, and repairs to foundations, sewers and septic systems. The loan is secured by a deed restriction.
“This is the largest grant that Habitat for Humanity of Springfield has been awarded,” said Larry Peterson, executive director of HFHS. “We are thrilled to expand our home preservation and repairs through the Creating Healthy Homes program and assist our neighbors who are in need of a safe and secure home.”
The recently awarded $750,000 grant allows HFHS to complete 40 home repair projects with an average of $18,750 to be used to complete each project. For each repair project, homeowners will sign a five-year deed restriction, meaning the homeowner will only pay back a portion the loan if the home is sold or refinanced within five years of the home improvement’s completion.
Homeowners who are interested in applying for the Creating Healthy Homes loan program can find an application form on the HFHS website, or should contact Nancy Williams, partner services director, at 417-829-4001 x 105 or email@example.com.