You may be eligible for rehabilitation
of your home. The Rantoul Community Development Department
is now taking applications for this service. You may
qualify if:
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1. |
You own or are purchasing your home; |
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2. |
You meet general requirements related
to cost of construction, zoning, etc.; |
| |
3. |
You do not exceed the asset limitations. |
Definition of Assets: Assets that can
be readily converted to cash such as savings bonds,
stocks and other securities and equity in real estate
other than the applicant's homestead.
| |
4. |
You do not exceed the following income
limitations |
| |
Number of Persons in Household |
Maximum Income* |
| |
1 |
$ 31,550 |
| |
2 |
$ 36,050 |
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3 |
$ 40,550 |
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4 |
$ 45,050 |
| |
5 |
$ 48,650 |
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6 |
$ 52,250 |
| |
7 |
$ 55,850 |
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8 or more |
$ 59,450 |
*Income includes earnings, dividend, pensions, social
security, interest, public aid or any other source of
support.
Grants are available to all eligible persons throughout
the community.
Priority will be given to persons with disabilities
and those individuals 55 years old or older. Priority
will also be given to those homeowners living in the
following areas of Rantoul (approximately boundaries
given):
| |
1. |
The area bounded by the Village limits,
Chicago Avenue, Ohio Street and Grove Avenue. |
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2. |
The area bounded by Champaign Avenue,
Lincoln, Urbana Avenue and Chanute Street. |
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3. |
Pleasant Acres Subdivision. |
Rental Rehabilitation
This program is designed to assist in the rehabilitation
of rental properties with 11 or fewer units by providing
funding for rehabilitation projects. The maximum loan
amount is $8,500 per unit and must be matched by the
property owner.
Moderate Housing Rehabilitation
Assistance up to $12,000 is available for major repair
or renovation of homes which contain several code-related
repairs or are in need of significant rehabilitation.
Repayment of funds is dependent upon length of occupancy
after repairs are made.
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