Homeowners get grants and eligible landlords get loans that may be forgiven
What the document says“(A) shall provide grants to eligible home-owners to implement whole-home repairs not covered by other Federal home repair programs up to a maximum amount per unit, which maximum amount should-- (i) reflect local construction costs and the level of repairs needed in each unit; and (ii) be calculated and approved by the Secretary;”
An implementing organization must give grants to eligible home-owners and loans, which may be forgivable, to eligible landlords, in each case for repairs not covered by other federal home repair programs and up to a ceiling per unit set to reflect local construction costs and approved by the Secretary. A forgivable loan may be forgiven no later than three years after the repairs are finished if the landlord has kept to the loan agreement.
What the document actually says“(A) shall provide grants to eligible home-owners to implement whole-home repairs not covered by other Federal home repair programs up to a maximum amount per unit, which maximum amount should-- (i) reflect local construction costs and the level of repairs needed in each unit; and (ii) be calculated and approved by the Secretary;”
Money goes to homeowners as grants. It pays for repairs no other federal program covers. There is a top amount per home. That amount follows local building costs and what the home needs.
A grant does not have to be paid back. A loan does, unless it is forgiven. Owners get grants here and landlords get loans.
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