Neighborhood Impact Program (NIP)
NIP will provide rehab measures for either Health & Safety, Energy Efficiency Upgrades, or Accessibility Improvements!
Neighborhood Impact Program will provide rehab measures for either Health & Safety issues (new roofs, electrical upgrades, remediation of lead-based paint hazards, etc.), Energy Efficiency Upgrades (new energy efficient thermopane windows, insulated primary doors, storm doors, etc.) or Accessibility Improvements (handicap stools, upgrading bathrooms with low-lip showers, ramps, etc.). NIP will match $4 for every $1 invested into the home up to a maximum of $10,000. Match can be from measures provided by weatherization, USDA Rural Development, Owner Occupied Rehab, or owner contribution either in cash or purchase of materials to be installed. The funds are provided by the Federal Home Loan Bank of Indianapolis (FHLB), channeled through Old National Bank, and administered by Community Action Program. NIP funds are considered a "no payment-no interest" loan for 5 years.
Household income levels can not exceed 80% of the area median income. Homeowner must provide proof of homeowners insurance, payment of taxes, and provide proof of ownership. Homeowner must be willing to sign a 5-year Real Estate Retention Agreement stating they will remain in the house for the 5-year period and maintain homeowners insurance.
Counties covered by the program are: Fountain, Montgomery, Parke, Vermillion, and Warren. Presently, funding for this program has been depleted but we do expect more in the future. Contact Randy Burnette at (765)793-4881 or via email at rburnette@capwi.org for more information.
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