Housing Rehabilitation Revolving Loan Fund

How it works

The Franklin County Regional Housing and Redevelopment Authority (HRA) operates a Housing Rehabilitation Revolving Loan Fund for many towns in Franklin County. In the materials available from Deerfield, the program is described as a deferred-payment, zero-interest loan program. The town says HRA administers the revolving loan fund on a fee-for-service basis.

What the money covers

The official Deerfield housing plan says the program can be used to address code issues, perform needed repairs, and weatherize homes. A town annual report also says the HRA assists income-qualified residents requesting emergency assistance through the program.

Amounts and matching

The sources reviewed do not state a fixed dollar cap, matching requirement, or per-home maximum. The Deerfield annual report says that in most communities, fifty percent of each loan is forgiven gradually over a 15-year period as long as the property owner owns the home.

How to apply

The sources reviewed do not provide a full application workflow or a single program application page. The FRCOG housing pages note that there is a housing rehabilitation program in most Franklin County towns for income-eligible residents, and the Deerfield materials point residents to the HRA for the loan program.

Timing and deadlines

The source material does not state open/close dates or a current application deadline. It appears to be an ongoing local program rather than a one-time funding round.