Arcata Offering ‘Special Loans to Qualifying Homeowners’

This is a press release from the City of Arcata:

The City of Arcata is now accepting pre-applications for its Permanent Local Housing Allocation (PLHA) Owner-Occupied Pilot Housing Rehabilitation Program.

This program will provide low interest loans for eligible rehabilitation, accessibility and energy efficiency upgrades for income qualified Arcata homeowners. It gives priority to homes that have cited health and safety code violations. Because program capacity is limited, the pilot program is expected to assist approximately three to four households. Pre-applications will be placed on a waitlist and participants will be selected through a lottery system. The first round of pre-application reviews will begin on Monday, Aug. 10.

Available Loan Types

• Amortized Loans: Fixed simple interest rate of 1.5 % for households at or below 80% area median income (AMI).
• Deferred Payment Loans: Fixed simple interest rate of 1.5% with no required repayment for 15 years, for households at or below 60% AMI.

Who Can Apply

• Have a household income at or below 80% for Humboldt County’s AMI.
• Own and occupy a housing unit within Arcata city limits.

How to Apply or Get More Information

• Pre-Applications are available online on the City’s website under the Housing section.
• For questions or help with the pre-application, you can contact: Sam Sauter by email at [email protected] or by phone at (707) 822-2429
• Sara Cunha by email at [email protected] or by phone at (707) 825-4876