City Of Edwardsville Creates Housing Rehab Program To Help Homeowners Afford Improvements
EDWARDSVILLE – The City has launched a forgivable loan program aimed at helping homeowners make improvements to Edwardsville’s older houses. The Single Family Residential Rehabilitation Program offers forgivable loans of up to $25,000 to eligible residents for a variety of improvements. High-priority projects include roofing, electrical wiring, windows and doors, heating and air conditioning systems, foundations and more. “This program is a step in the right direction to help homeowners reinvest in some of our older housing stock that could be so lovely with just a little TLC,” said 6th Ward Alderwoman Jennifer Warren, who brought the idea for the housing rehabilitation program to City staff. Funds for the approved home projects will be provided to the homeowner as a five-year forgivable loan. If the homeowner sells the property or converts it to a rental unit within five years, the funds must be paid back on a pro-rated monthly schedule for the time remaining
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