The Boys, Girls, Adults Community Development Center of Marvell is expanding its service area for its home rehabilitation program, according to Michael Jackson, president and chief executive of Delta Community Development and law Center Inc. The reason for the expansion, says Jackson, is to allow homeowners throughout the old Marvell School District and Poplar Grove can apply

 

The Boys, Girls, Adults Community Development Center of Marvell is expanding its service area for its home rehabilitation program, according to Michael Jackson, president and chief executive of Delta Community Development and law Center Inc. The reason for the expansion, says Jackson, is to allow homeowners throughout the old Marvell School District and Poplar Grove can apply
BGACDC is accepting applications from homeowners whose house need repairs, reported Jackson. If BGACDC finds the applicant satisfies program rule, BGACDC will apply for funding to improve the house through the Arkansas Development finance Authority.
Eligible homeowners must be low income and must have owned and lived in the house for the past three years. Low income is determined by the size of the household – a four-person household is considered low income if the family income is $35,100 or less. Low income for a one-person household is considered $24,660 or less.
The house must have health and safety problems. BGACDC will renovate the house if the cost $25,000 or under. If repairs exceed $25,000 BGACD would apply for up to $90,000 to demolish the house and build a new on the same lot.
“We have only a few slots left since people have already been applying,” stated Jackson.
Jackson is lead consultant working with BGACDC on the funding applications.
According to Jackson, last year BGACDC completed a project that included the renovation of seven houses and the reconstruction of an eighth. One of the houses was in Poplar Grove, while the others were in Marvell and nearby rural areas.
The current project was targeted in Marvell so contractors would be working in a more concentrated area.
“Although BGACDC could probably show more impact in a concentrated area, we decided it was best to make the program available to more people,” said Jackson. “Homeowners need to apply by Friday, March 30. To get an application, call 870-829-3275 and ask for Andrae Farr.
To apply for funding, BGACDC must make sure homeowners are eligible, assess the repair needs and bid construction. Jackson said homeowners must sign a contract with a construction contractor to do the work.
Homeowners will receive a forgivable loan from ADFA if ADFA approves the BGACDC application. The term forgivable means that the loan is forgiven over time and does not have to be repaid unless the homeowner does not comply with program rules.
If the house is demolish and rebuilt, half of the loan would be forgiven over time and the other half would have to be repaid over 20 years at 1 percent interest. AFDA requires to homeowner to carry enough insurance to cover the ADFA loan.