How to Get a Housing Preservation Grant

The purpose behind the housing preservation grant is to offer financial assistance to organizations to repair low-income housing. The goal is to get these residential dwellings up to a development standard. Rental property owners of single and multiple dwellings are also eligible to apply. These grants are very competitive and tend to go where the money is most needed.

Instructions

1. Check your qualifications. In order to qualify for the Housing Preservation Grant, you must be low-income housing landlord, homeowner or cooperative member. According to the Rural Development USDA website, very low income is below 50 percent of the area median income. Low income is an income between 50 and 80 percent of the area median income. Visit their website for contact information for your state office for more detailed information for your area.

2. Create a plan to use the grant money to repair and rehabilitate the home or the multi-family housing structure. If you receive a grant for a rental property, you must make the housing available to low income families after renovations are complete. These homes must be in rural areas with a population of 20,000 or less.

3. Contact your Rural Development State Office after you are confident you meet all the requirements necessary to be approved for the grant. Fill out a "Housing Preservation Grant Program Application." This begins your approval process. The State Director must approve all housing grant program applicants.

Resources

• Visit this website to find more info on your state office.