MONROE — The city is considering expanding a program designed to provide loans to homeowners trying to beautify their properties.
The Monroe Common Council will consider plans to add $100,000 to an existing — but geographically limited — Home Improvement Grant program that could be expanded to everyone in the city who meets certain guidelines.
The program is an outgrowth of a downtown beautification effort begun in recent years by the city Redevelopment Authority (RDA).
“The RDA had a successful CURB appeal grant program that supported improvements to various homes in the RDA project area #1 (downtown area) in 2022 and 2023,” officials said in a memo to the common council about the program. “It has provided approximately $200,000 in reimbursements to 15 homeowners to complete improvements to the exterior of their home.”
Seeing its initial success, the RDA adjusted the program in 2024 to become an “ongoing program” without a deadline to apply — but with some new requirements to apply. Those included a rule that properties must be referred by the city property maintenance program and that they also must qualify as a low-income/affordable-housing project.
The city currently has nearly $400,000 in funds in an affordable-housing fund, according to officials, and that surplus prompted city staff to ask the council to allocate a portion of those funds to support the RDA/HIG program city-wide.
Under the plan proposal, the RDA would financially support the projects within their areas, while the city would support the projects outside of those areas with the affordable-housing funds.
But City Administrator Brittney Rindy said the program has yet to be finalized.
“The Finance and Taxation committee provided a recommendation to expand the current RDA HIP program city wide, but we will have to take this before the RDA and Common Council before it will be finalized and approved,” she said.
If it wins approval, funds from the program would then be available in the form of forgivable loans with 0% interest rate and no repayment terms over the five-year life of the loan.
Eligibility requirements suggested include:
● Reside in an owner-occupied home within the City of Monroe Redevelopment Area No. 1, and 2.
● Have a referral from the city due to code violation(s) requiring correction.
● Meet the housing affordability criteria, where housing costs such as mortgage (principal, interest) property taxes, and insurance exceed 30% of the household income.
The city funds, according to officials, can be used for code compliance efforts, energy efficiency, exterior repairs, and grading waterproofing and drainage.
“Applicants must be able to secure financing or demonstrate the ability to pay any required match,” the city said in a brochure about the HIP program. “Construction on improvements must begin within twelve months of grant approval and be completed within six months of the start of construction.”