Sevier County secures $500,000 grant form THDA
By Wes Bunch
County Mayor Larry Waters has secured a $500,000 HOME grant from THDA to repair substandard homes for as many as 15 low-income households in Sevier County.
“All homes need maintenance over time. Sevier County is doing an exemplary job of identifying families in need and providing them with home repair services they would not otherwise have access to,” said THDA Executive Director Ralph M. Perrey.
The HOME program is funded by the U.S. Department of Housing and Urban Development and administered in part in Tennessee by THDA. The $500,000 grant is the maximum amount that can be awarded by THDA to any single organization or government entity.
“We have an important opportunity to reach out to families in need, especially senior citizens, who cannot afford regular home maintenance and over time have found themselves trapped in substandard housing,” said Mayor Waters. “I want to thank THDA for providing us with the means to help our neighbors bring their homes back up to code.”
The county government will be working with Brown, Pearman & Russell, LLC to administer the program under policies and standards established by the county. Financial assistance for home repairs will be provided to qualified families who apply and are selected for the program in the form of a five-year loan, forgivable at 20 percent per year if the family remains in compliance.
HOME grants must be used for the production, preservation or rehabilitation of affordable housing for low- and very low-income families and individuals.