The Hancock-Henderson Quill, Inc.

Gladstone Board Hears of Loan And Grant Program That Aides With Housing Improvements

by Dessa Rodeffer, Quill Owner/Publisher

Residents in Gladstone may have a way to improve their homes according to Nikki Morgan of USDA Rural Development out of Galesburg.

Morgan handed out information during Monday, April 14th's regular Gladstone Board meeting at the local community building.

According to Morgan's pamphlets, the Home Repair Loans & Grants program can help with a variety of improvements at low or no cost if applicants qualify.

A sheet of paper (#504 Repair Loan Income Limits) was also handed out to the board showing:

For Henderson County (and Warren County), income limit for 1 person is $18,250, 2 persons $20,900, 3-$23,500, 4-$26,100, 5-$28,200, 6-$30,300, 7-$32,350, and 8 persons-$34,450.

This Rural Development Repair Loan is similar to a home improvement loan.

USDA provides loans and grants to eligible rural homeowners to improve or modernize their homes, to make them safer and more sanitary or to remove health and safety hazards.

Home repair LOANS may be made to applicants who have very-low income which vary by county. In addition to meeting the income requirements, applicants must have acceptable credit history, ability to repay the loan, be a U.S. citizen and own and occupy the home in an eligible rural area, of which Gladstone is.

What qualifies for a home repair loan is: new roof, new siding, new windows, foundation repairs, new kitchen cabinets, new septic system, and new furnace/AC.

Other qualifying repairs include those needed to remove a health hazard from the home as well as cosmetic improvements if they are needed.

The maximum loan amount is $420,000 and at an interest rate of only 1% and can be made for a term of 20 years. The pamphlet shows a payment example:

You borrow $5,000 from Rural Development or a new roof at 1% interest for 20 years. Your cost is $23 a month.

Home Repair GRANTS are also being offered to applicants 62 years of age or older, very low income, demonstrating an inability to make loan payments, proof of ownership of the home, and who agrees to not sell property for 3 years following the grant. If you do sell, the Grant has to be repaid. You must live in an eligible rural area.

There is a $7,500 limit on grant funds! The same type of repairs are eligible for grants as for loans.

All of this USDA Rural Development Program is being offered as a commitment to help the future of rural America.

Morgan said, if anyone wants to discuss it they qualify or has questions, they can call a board member or the Rural Development office at Galesburg at 342-5138 extension #4, Diana Belknap.

In other business Monday evening, Mayor Rex McKinney called the meeting to order at 6:00 p.m. and all recited the Pledge of Allegiance to the United States flag.

•Byron Sebastian made a motion to donate $500 for the Gladstone summer ball leagues, seconded by Darlene Manes which all approved.

•Mike Hopkins motioned to sell the 806 International Tractor, (initially bought to remove snow) to Rick Olson for his bid of $2,199.99, seconded by Manes which all approved.. One other bid of $1,100.00 was received from Roger Grant of Roseville.

•Jim Hetrick motioned, seconded by Manes, to set Thursday, May 15 through Saturday, May 17 at Noon as the tentative dates for Gladstone Clean-up Days. Hetrick will check with LaVeine of Burlington, IA to confirm the dates. LaVeine will come with dumpsters on Thursday evening and will return to pick up the dumpsters Saturday Noon. The dumpsters are to be placed at the Sebastian Addition.

Clerk Joyce Hetrick was instructed to post a notice at three places in Gladstone to inform the residents of Clean-Up Days May 15-17. The dumpsters are strictly for residents of Gladstone only.

The meeting was adjourned at 6:52 p.m.

Guests were Don Olson, Tom Morrison, Nikki Morgan, and Ron James.