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City is Now Taking Applications for Rental Rehabilitation Loans
Date: April 5, 2002
Contact: Michael Hollimon, Neighborhood Improvement Administrator
 : MHollimon@wichita.gov
 : (316) 268-4313
The City of Wichita’s Housing Services Department is currently taking applications for loans for the rehabilitation of rental properties located within the Local Investment Area. The loans will have 4% interest and repayment will be deferred for the first 2 years. Monthly payments will be made thereafter until the loan is repaid. Recent program revisions make rental loans even more favorable. The changes affect the amount of assistance that can be provided per unit. The properties assisted, must be located within one of the five designated Local Investment Areas. These areas include the following neighborhoods:
Orchard Breeze – Big Ditch on the west, Maple on the south, West Street on the east and Central on the north, excluding the area bound by Douglas, Elder, Second Street and West Street.
North Central – Beginning at the corner of 25th Street and Arkansas, east to Market, south to 9th Street, then west to Waco, jog north on Waco to 9th Street, west to Lewellen, north to 13th, jog west on 13th to the Little Arkansas River, north along the river to 18th Street, jog east to Arkansas, north to 25th Street.
Northeast – Beginning at the corner of 21st Street and Washington, south to 8th Street, east to Oliver, north to 17th Street, west to Hillside, north to 25th Street; plus the area bound by Hillside, 27th Street, Iva, and 25th Street.
Hilltop – Lincoln on the north, Bluffview on the west, Harry on the south and Oliver on the east.
Planeview – Hillside on the west, 31st Street on the south, then east on 31st street to it intersect with the Kansas Turnpike; thence northeast along the Kansas Turnpike to it intersect with George Washington Boulevard; thence north to Pawnee.
To increase the participation in the program, the maximum loan amount has been increased to $20,000 for a single-family dwelling or $15,000 per unit for a multi-family dwelling. Property owners whose household income meets or is below the HUD low and moderate-income guidelines for applicable family size may borrow 100% of the rehabilitation cost. Property owners whose household income exceeds the HUD low and moderate-income limits may borrow 75% of the cost to rehabilitate the dwelling not to exceed program limits.
Participants are expected to be credit worthy, with the ability to repay the loan. Other eligibility criteria require that the owner is a resident of the City of Wichita and the tenants have household income that doe not exceed 80% of HUD’s median income limits for applicable family size.
Applications may be picked at the Housing Services Office at 332 Riverview between the hours of 8:00 AM to 5:00 PM or if there are any questions, call Neighborhood Improvement Services at 268-4313.
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