Globeville Civic Association #1

DURA AWARDED $850,000 FROM THE CITY OF DENVER TO SUPPORTHOUSING REHABILITATION AND REPAIR PROGRAMS

Funding will help Denver residents of low and moderate incomes address housing needs,stay in their homes

DENVER — The City of Denver Office of Economic Development has awarded the Denver Urban Renewal Authority (DURA) $850,000 in funding tosupport the City’s housing rehabilitation programs. Through the Single FamilyRehabilitation (SFR) and Emergency Home Repair (EHR) programs,DURA helps low-and moderate-income homeowners throughout Denver address their housing rehabilitation needs through low- or zero-interest loans.

“These are critical programs for creating safer and more livable neighborhoods for Denver residents,” said Mayor Michael B. Hancock. “They not only help reduce the amount of foreclosures around our city,but they create an environment of economic stability for some of our neediest citizens during one of our most difficult economic times.  These housing programs truly do have a positive impact on our entire community.”

Through the EHR and SFR programs,DURA has provided more than $66 million in rehabilitation assistance  to more than 16,000 qualifying Denver homeowners,providing the opportunity for economic stability among Denver’s low- and moderate-incomeresidents.

“The SFR and EHR programs are designed to assist qualifying Denver homeowners in obtaining very low-interest loans to preserve and protect their homes through necessary exterior and interior house repairs,” said Tracy Huggins,executive director at DURA. “In addition to helping Denver residents stay in their homes,the SFR and EHR programs also preserve the existing inventory of affordably priced housing options,which are often older and in need of repair.”

The SFR program,which received $600,000 in funding,provides low- or no-interest loans for essential home repairs such as roofing,kitchen and bathroom cabinets,furnace and water heater repair/replacement,electrical,plumbing,sidewalks and driveways,exterior and interior painting,floors and carpeting,windows and doors,insulation,and handicap accessibility. Qualifying homeowners may receive up to $24,999 in loans through SFR.

The EHR program,which received $250,000 in funding,provides similar assistance but for emergency situations that require immediate attention,such as a leaking roof,hazardous or inoperable furnace and waterheater,plumbing,electrical or sewer system failure. The EHR program provides qualifying homeowners with low-interest loans up to $6,000.

To qualify for a loan,the applicant must meet the following criteria:

The EHR and SFR programs have slightly different income requirements. Interested residents can find out if they qualify by visitingwww.renewdenver.org/housing-rehabilitation,or calling DURA at (303) 534-3872.

EHR loans are immediately available for residents of all Denver neighborhoods,and SFR funding gives priority to nine Denver neighborhoods:Barnum,Barnum West,Lincoln Park,Globeville,Sun Valley,Elyria/Swansea,Villa Park,West Colfax and Westwood. Priority will also be given to disabled or elderly clients regardless of neighborhood.

In addition to administering the loan,DURA helps residents complete their loan applications and assists with loan closings. The organization also manages home inspections,provides experienced and licensed contractor referrals and works to ensure the repairs are done correctly and on schedule.