Seeking to help low- and moderate-income households to maintain their properties, Lawrence Township is offering forgivable loans to eligible households through its home improvement program.
Lawrence Township is accepting applications from income-eligible households for home improvements that include roofs, windows, heating systems, insulation, plumbing and any other health, safety or code violation.
Since the program is set up as a forgivable loan, there are no monthly payments and no interest charges. If the owner of a single-family house stays in the house for 10 years, the loan is forgiven.
Household size and annual income will determine if an applicant is eligible, township officials said.
A two-person household’s income cannot exceed $39,684 to be considered a low-income household, and $63,494 to be considered a moderate-income household, for example.
The income for a four-person household cannot be more than $49,605 to qualify as a low-income household, and a maximum of $79,368 to be considered a moderate-income household.
Through the home improvement program, households can make necessary repairs that they may not otherwise be able to afford, said Mayor Christopher Bobbitt.
“The home improvement program also helps the township to satisfy its affordable housing obligation. By implementing this home improvement program, everybody wins,” Mayor Bobbitt said.
Every town is required to provide its fair share of affordable housing, under state law. One way to meet that obligation is to offer a housing rehabilitation program. Since 2010, Lawrence Township has rehabilitated 19 owner-occupied houses, at an average cost of $18,746. It would like to rehabilitate an additional 73 units over the next seven years.
The money for the home improvement program comes from Lawrence Township’s Affordable Housing Trust Fund. Developers are required to contribute money to the trust fund, based on a formula.
Households that are interested in participating in Lawrence Township’s home improvement program should contact Affordable Housing Administrators, which is handling the program for the township, at 732-892-4292.
