State promotes affordable housing options in Northeast Louisiana
Grambling, La. (KNOE) - Efforts are underway to develop rural communities using state and federal funding.
On Aug. 15, the Louisiana Housing Corporation (LHC) and USDA Rural Development launched a statewide tour to educate leaders, developers and residents on obtaining funding opportunities for affordable housing.
“We have an affordable housing shortage in our state,” LHC’s executive director, Joshua Hollins, said. “We work with those developers to build quality, safe, energy-efficient housing that you would often see at a market-rate environment in an affordable housing environment.”
Officials outlined both state and federal funding options.
“We have subsidized loans and lending programs for housing where the federal government pays a portion of the house note, the mortgage towards the homeowners being able to live there and be sustainable there,” said Deidre Roberts, state director of USDA Rural Development.
Roberts said USDA has a program for those who qualify to increase the chances they get a mortgage by reducing the risk for banks.
“Where you’re able to go to the bank of your choice, and they can write that loan for you, and it’s guaranteed and backed by the federal government,” Roberts said. “If there is ever a reason that a homeowner can’t fulfill their obligations with that mortgage, then we will step in and cover up to 90% of that loan.”
Hollins said once people are in a home, LHC can continue to provide services through an energy and utility assistance program for low-income families.
“One season, whether it be summer, and then the winter,” said Hollins. “We can do two seasons total for someone. Then we have our water assistance program. We can assist with water bills. LHC is a wealth of resources, and that is why we are out here to spread the word.”
The roadshow will return to Northeast Louisiana on Wednesday at the following locations.
- Jonesboro Town Hall at 10 a.m.
- Monroe City Council Chambers at 2 p.m.
- Ferriday Hall at 6 p.m.
Copyright 2022 KNOE. All rights reserved.