My name is Kelsey Doom, and I am your new director of economic development. I have been asked to write a column to update my community on the plans an...
Meet the New Director of Economic Development!
June 9, 2014
Homeowners and Landlords able to get Home Improvement/Weatherization Assistance!
February 17, 2015
GROW South Dakota is, once again, offering the Home Improvement Forgivable Loan Program to eligible South Dakota residents. [In case you are unaware of what a forgivable loan is, let me explain: a forgivable loan is a lot like a grant—as long as you follow certain rules, you don’t have to pay the money back.]
Here are the requirements in order to qualify for the program:
The applicant must own the home, and it must be their primary residence.
Mobile homes are not eligible, unless it is on a foundation and taxed as real estate property.
The applicant and all household members must be income eligible. A household of 1-2 individuals cannot make more than $32,300 per year. A household with 3 or more individuals cannot make more than $37,145 per year.
Taxes on the property must be paid to date.
After the repairs are made a deed restriction, which is a lot like the mortgage you get on your house, will be placed on the home for a five year period. The balance of the cost of repairs will be reduced by 1/60th every month the home remains the applicant’s primary residence and is not sold, transferred, or rented out. If you sell, give away, or rent your home out you will be responsible for the remaining balance.
The program will cover one major repair on the home. For example, if the home needs new siding, windows, and foundation repair, a contractor will visit the home to see which repair is most crucial and fix only that one.
As with all free money, there is a lot of paperwork involved. Tax returns, tax receipts, proof of income (whether it’s salary, unemployment, social security, child support, etc.), and personal information is required when going through the application process. If the applicant is employed, the employer will also need to sign a form stating income.
In addition to the Home Improvement Program, GROW South Dakota also offers a Weatherization Assistance Program for low income families as well as rental units. Many of the conditions are the same as the Home Improvement Program, but there are two important differences: if your home has received weatherization services after September 30, 1994, it will not be eligible for this program; in addition, if a landlord is applying for these funds, they will be responsible for 33.3% of the cost.
The weatherization program can address the following issues, but is not limited to:
Insulation, proper ventilation.
Air infiltration measures, weather strip, glass replacement, foam sealant, caulk.
Minor health and safety measures, furnace clean and tune, water heater replacement.
Minor repairs that will reduce energy consumption.
For questions, feel free to contact myself or Kristin Hofland with GROW South Dakota (Kristin@growsd.org).