Mayor Francis Slay and Comptroller Darlene Green have announced two new funding opportunities to help vulnerable residents keep up their aging homes to safe and livable standards.
At the request of Mayor Slay, the Affordable Housing Commission (AHC) has set aside $1 million in additional funding to invest into home repair programs.
"It is every bit as important to keep people in their own homes and in their own neighborhoods as it is to create new, affordable housing," said Mayor Slay. "Oftentimes the only investment low and moderate-income families have is their house. Making sure families can afford to stay in their homes helps strengthen neighborhoods, and strong neighborhoods lead to less crime and a greater sense of community."
This year, the City streamlined the Home Repair program, which quickly moved 899 homeowners off the waiting list for requested home repairs. More than $2.4 million in home repair work has been authorized so far this calendar year. The additional $1 million allotment will prioritize the remaining 1,886 homeowners to finish the needed work.
"The Affordable Housing Commission has sought proposals from community support groups to provide the home repairs for income-qualified homeowners," said April Ford-Griffin, Executive Director of the Affordable Housing Commission. "We use Housing Trust Fund monies for affordable and accessible housing development, and for preventing homelessness."
The State of Missouri also has allocated $3.6 million to the City to issue Qualified Energy Conservation Bonds. If approved by the Board of Aldermen, the bonds would allow the City to provide low-interest loans for qualified energy conservation projects. Board Bill 197 will be heard before the Ways & Means Committee on Tuesday, November 18, 2014.
"It is important to give homeowners more options to make improvements," said Comptroller Green. "These bonds would allow homeowners to take out a low-interest loan for the retrofitting of their existing homes to increase energy-efficiency in heating, cooling, lighting, water-saving, storm water-reducing, or related improvements."
The funding and loan options also aim to make homes more sustainable, in accordance with the City's Sustainability Plan (pp 165) and the Mayor's Sustainability Action Agenda to support Citywide greenhouse gas emission reductions. Nearly 80 percent of our City's greenhouse gas emissions come from existing buildings, including residential.
Office of the Comptroller
Office of the Mayor
Home Repairs and Renovation