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Housing Programs Update June 2015

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Below is a list of upcoming and ongoing City of Covington Housing Programs. 

Veteran’s Resource Fair

The Housing Authority of Covington (HAC) and the City of Covington are holding a Veteran’s Resource Fair on Tuesday, July 7 from 10:00 a.m. to 2:00 p.m. at Gateway College, 525 Scott St., Covington, KY. The Fair is designed to connect veterans with local agencies and services including housing, education, employment, health screenings, social services, and support groups.

There will be refreshments and entertainment. All veterans in the Northern Kentucky area are welcome to attend this free event.

2015 Housing Choice Voucher Program

The 2015 Housing Choice Voucher Program waiting list is currently open and taking applications. The application can be accessed online by going to kycovingtonhcv.tenmast.com/apply/.

Before you begin the application, you must have available the names, dates of birth, and Social Security numbers for all household members.  You should also know the amount of income, assets, and expenses for each household member.

Hope VI Home Buyer Information Session

On Tuesday, June 30, from 5:30 – 7:30 p.m. the City of Covington in partnership with The Housing Authority of Covington, Sibcy Cline Realtors, and Brighton Center are hosting an information session on the Hope VI Affordable Homeownership Program. Nine homes, currently under construction and located along East 10th and East Robbins Streets, are for sale in Covington. Designs include one- and two-story and two- and three-bedroom homes with down payment assistance and home buyer tax credits available.

Light refreshments will be served. Please RSVP to Chris Bradburn by June 26 at 859-655-7306 or cbradburn@hacov.org.

Home Owner Repair Program

Homeowners in Covington may be eligible to receive up to $5,000 in assistance to address problems with faulty sewer laterals, inoperable furnaces or severe roof and gutter leaks, thanks to a program offered by the City of Covington’s Department of Development, Programs and Strategic Projects Division.

Homeowners can submit a completed application packet with all required supporting documentation in person beginning on July 17, 2015 from 8:30 a.m. to 4:30 p.m. at Covington City Hall, 20 West Pike Street.  The application review process can take up to thirty days.  Assistance to households will be based on eligibility and available funding.

For more information, visit www.covingtonky.gov/news/2015/06/11/city-offers-homeowner-repair-assistance-applications-accepted-july-17.

City of Covington Homebuyer Assistance Program

The City of Covington offers households which meet income, credit, and other requirements zero-interest, deferred/ forgivable loans to assist with purchasing an owner occupied home. The loans offer up to $5,000 to cover the lender required down payment and other standard charges to help make purchase affordable. The loan has a 0% interest rate and no monthly payments. It will be forgiven if the owner occupies the home as their principal residence for 5 years from the date of purchase. 

The borrower’s gross annual household income must be at or below 80% of the Area Median Income ($39,900 for a single person, $56,950 for a 4 person household). Borrowers must attend a HUD approved homebuyer education course. All properties must be one to two units, owner-occupied or vacant, and meet minimum local housing standards. If the property is sold, transferred or vacated before the 5 year term, any remaining loan balance will be owed.

For information click here or contact Jeremy Wallace or John Hammons at 859-292-2163.

Northern Kentucky HOME Consortium Homebuyer Assistance

The Homebuyer Assistance Program aims to increase the number of homeowners in the Northern Kentucky HOME Consortium cities of Ludlow, Newport, Bellevue, and Dayton. Under this program, households which meet income, credit, and other requirements may obtain loans of up to $5,000 to assist with purchasing a home to live in as an owner occupant. The loans can be used to cover the lender required down payment and customary closing costs. Borrowers may also be eligible for additional principal reduction to make the purchase affordable. The loan will be forgiven if the owner occupies the home as their principal residence for 5 years from the date of purchase.

Borrower’s gross annual household income must be at or below 80% of the Area Median Income ($39,900 for a single person, $56,950 for a 4 person household). Borrowers must attend a HUD approved homebuyer education course. All properties must be one to two units, owner-occupied or vacant, and meet minimum local housing standards.

For information click here or contact Jeremy Wallace or John Hammons at 859-292-2163.