Prescott Valley recently applied for a grant to help local homeowners take care of emergency home repairs. The demand for this service has grown with the tough economic times. In total Prescott Valley applied for $400,000 of Arizona grant monies - $150,000 of which will be slated to cover emergency home repairs. The balance of the $400,000 request would go to the housing rehabilitation program. From 2003 to 2006 36 local homes were rehabbed with similar Arizona state grant funds.
Grants will likely be awarded in late December so town applications would then be accepted in January. There is no guarantee that Prescott will get these monies. The competition for funds is tight as there is less money overall for the housing department to disburse. Emergency home repair money would be used to cover homes in need of immediate attention - dire health and safety issues such as a leaking roof or no heat. If the monies come through, Prescott Valley plans to award a maximum of $10,000 per household for emergency repairs and $24,900 for rehabilitation. Rehabilitation would conversely include such things as increased insulation or a new roof.
Prescott homeowners seeking funds must meet the town income guidelines. Guidelines to apply are as follows - households may not have combined incomes exceeding 80% of the median income level in Yavapai County. This number is currently $38,650.
Prescott Valley is committed to making Prescott one of the finest communities in Arizona. They are not yet ready to take applicants as they are waiting for approval. Please stay tuned for more updates!
For more information about Prescott real estate please contact Tim Anderson or feel free to use our complimentary Prescott Area MLS Search.
