The U.S. Department of Housing and Urban Development (HUD) has announced it will provide additional Community Development Block Grant (CDBG) funds to the City of Sioux Falls through the American Recovery and Reinvestment Act (ARRA) of 2009.
The City of Sioux Falls expects to receive approximately $221,000 of CDBG-R funds. With these funds, the City will implement a furnace replacement program. Inefficient heating systems will be replaced with 95 percent efficient furnaces.
Eligible households must have owned and occupied their property at least one year, and have an income at or below 80 percent of the median family income. A maximum of $3,000 will be provided per eligible household. The funds will be provided as a deferred payment loan with no-interest. One-third of the loan amount will be forgiven for each year the household continues to own and occupy the property.
It is estimated that 70 furnaces will be replaced by this program. Implementation of this program is contingent upon approval of the City’s application to HUD for the proposed program and receipt of the federal funds. |
