Newkomis Housing Committee to host meeting

NOKOMIS — The Newkomis Housing and Real Estate Committee will host an informational meeting for residents of Nokomis and Coalton at The Vault on Tuesday, June 10, at 5:30 p.m. This meeting will discuss a fantastic opportunity for low- to moderate-income families seeking to improve their homes.

The Coles County Regional Planning Commission and First Mid Bank & Trust have been awarded a grant from the Federal Home Loan Bank of Chicago. This program requires a 25 percent match from homeowners and aims to rehabilitate 11 homes in Montgomery County.

To qualify, residents must be low-to-moderate income (LMI) based on their household gross income and must own their home. All homes must be owner-occupied and built on a permanent foundation. Homes purchased on contract can qualify if properly documented. Most mobile homes do not qualify unless they are on a permanent foundation below the frost line and taxed as real property.

Homeowners are responsible for financing 25 percent of the repair costs, while the grant covers 75 percent, or up to $50,000. Homeowner funds can come from any source and must be available at the time of contract signing. The grant also provides a pathway for homeowners to qualify for a loan with First Mid Bank & Trust. Eligible applications will be reviewed and prioritized based on their scores.

If selected, the office will consult with the homeowner to determine desired updates. Priority will be given to essential items like roofs and HVAC systems (furnaces and air conditioning), as well as any necessary improvements to meet health and safety codes.

All work will be contracted to pre-approved contractors, with contracts awarded to the lowest responsible bidder. Our housing inspector will work closely with homeowners and contractors to ensure that all work meets proper standards and complies with regulations.

For more information, please attend the meeting.

The Vault is located at 101 E. State St. in downtown Nokomis.

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