The Town of New Milford is applying to the Connecticut Department of Housing to reactivate the Housing Rehabilitation Loan Program, which financially assists home owners with repairs such as the correction of health and safety violations, energy conservation, lead paint mitigation and code compliance measures.
Funding for this Program is contingent upon award of grant money from the Department of Housing. To show the Department of Housing that there is a need for this Program in New Milford, Mayor Pete Bass is asking potentially eligible home owners and property investors to complete a pre-application and submit it to the town's Grants & Compliance Specialist.
If awarded, qualified New Milford home owners may receive a 0-percent interest deferred payment loan to complete the approved work. Eligibility is based on the gross annual income, though other factors such as equity and property tax status will impact loan eligibility. More details can be found on the town's website.