PORTLAND, Maine – Starting January 12, 2010, federal Housing and Urban Development (HUD) funds will be available for home repair and homeownership applicants living in Cumberland County through a new HOME Consortium program administered by the City of Portland’s Department of Planning and Urban Development.

For more than fourteen years, the city’s Planning and Urban Development Department has successfully operated a $650,000 HOME program locally and based on its experience and knowledge in this area, the Department has been designated the lead entity by HUD and will administer both the HOME program for Cumberland County as well as Portland.

The HOME Consortium program makes funds available for a variety of housing rehabilitation and repair projects including, energy audits (heat loss analysis), weatherization, new roofs, chimneys, windows and doors, heating, electrical and heating systems, entry stairs and the correction of code violations. Down payment and closing cost assistance for qualified first-time homebuyers is also available. For this fiscal year, $293,281 is available for homeownership assistance, and $160,000 for housing rehabilitation, which is projected to fund between ten and twenty rehabilitation home projects and ten to fifteen first-time homebuyers. While funding is limited, people living in Cumberland County interested in the program are encouraged to contact the city to find out more.

Established in 1994, HUD’s HOME program funds the rehabilitation of income eligible owner-occupied properties with up to four units for as much as $15,000 per unit, and multi-family properties occupied by income eligible tenants. Eligible applicants may receive a forgivable loan, a low interest payable loan at zero to three percent, or a combination of a forgivable loan and a payable loan. Appropriate financing terms will be tailored to an individual applicant’s ability to pay. Deferred payment loans of up to $30,000 are also available for first time homebuyers for down payment assistance and other eligible costs for individuals and families purchasing their first home. Additional funding is available for eligible applicants for the identification and treatment of lead paint hazards, and all applicants can receive a free heat loss analysis by a Maine Certified Energy Auditor.

Program information, including income guidelines and applications are available on at http://www.portlandmaine.gov/planning/housingprog.asp or contact Mary Davis at 207/874-8698, or MPD@portlandmaine.gov for more information.