August 1, 2013

Housing renovation loan incentive being offered

Housing renovation loan incentive being offered 

It’s no secret the Garrison rental housing market is extremely tight.
Hoping to address the situation, the Garrison Area Improvement Association (GAIA) board of directors has announced the availability of low interest loans. The loans target renovation of existing property in Garrison or within a five-mile radius.
The program, called the Affordable Rental Housing Renovation Program, combines the benefits to the community of renovating existing homes, while increasing the availability of affordable rental housing.
Keith Witt, GAIA executive director, said it’s hoped the creation of the program will provide  economic development, ensuring that employees and potential employees of local businesses and organizations can find local housing.
Witt said the lack of affordable housing is hindering businesses, the school or law enforcement from luring potential employees to Garrison.
The program could also benefit the community in another way.
“The renovation not only leads to additional habitable housing, but also improves the overall appearance of the community,” he said. 

The Weather Network