SINGLE-FAMILY OWNER-OCCUPIED REHABILITATION PROGRAM

A major concern of low-income Illinois homeowners is keeping up with neces­sary but costly repairs. This is particularly true of older homes with weathered roofs, worn siding, outdated plumb­ing/heating systems, drafty windows, or outmoded electrical wiring. The tough choice for limited-income people thus often becomes making major house repairs or watching homes filled with memories deteriorate around them.

To help solve this problem, HOME dollars are used for the Single-Family Owner-Occupied Rehabilitation (SFOOR) Program. Only non-profit organizations or units of local government are eligible for SFOOR funding, and homeowners selected by SFOOR grantees must have household incomes below 80 percent of the area median income.

Homeowners should apply for HOME assistance through sponsoring agencies funded by IHDA, not directly through the Authority or via the Single Family Program Department.

HOMEOWNER RESPONSIBILITIES

The following responsibilities are required of homeowners assisted through a HOME

SFOOR Program:

• SFOOR participants must occupy the property to be rehabilitated as their principal residence.

• The appraised value of a property after rehabilitation must be under the Maximum Appraised Value ceiling set for a given area. Maximum Appraised Values for the SFOOR Program are included in HOME applications.

• Rehabilitated single-family properties must meet both federal and state stan­dards for repair.

SALE PROVISIONS

SFOOR assistance to homeowners is provided in the form of deferred, forgivable loans at 0 percent interest. The use of HOME funds carries certain restrictions on the use of assisted prop­erty, as well as upon any proceeds realized from the sale of the home if the sale occurs within certain time frames. If the homeowner moves out or sells the home before this time period has expired, all or a portion of the HOME funds must be repaid by the homeowner.

For additional SFOOR details, call HOME at (312) 836-5200.