PUTNAM --- Mayor Anthony Falzarano has announced that the Town of Putnam has been awarded a $400,000 Community Development Block Grant (CDBG) under the housing rehabilitation category for town-wide housing rehabilitation. As part of the award, the Town of Putnam is seeking interested parties to further develop a waiting list of property owners interested in participating in the program.  

Also, anyone considering taking advantage of this program may contact Jackie LeFevre, Putnam Redevelopment Agency at 860-963-6834 or call Small Cities Consultants Lisa Low & Associates at 203-888-5624.  The deadline for submitting a letter of interest is March 28.

The purpose of this grant is to provide funds for low and moderate income homeowners to make needed repairs to their homes. To be eligible, single homeowners must have an annual income that does not exceed $44,750 or a maximum of $51,150 for a household of two.  For households of 3 persons or more, please refer to the 2014 HUD Income Limits. In addition, homeowners must be tax current and have a minimum of 15 percent equity in their home. 

One of the benefits of this grant is that since the money goes out as loans – at 0 percent interest which must eventually be repaid either by the homeowner or when the house changes title – the grant allows the Town to establish a revolving loan fund in perpetuity to provide assistance to some residents who need home repair but do not have the funds to make the repairs and who cannot obtain the funds through bank loans.

Some possible uses that have been identified include replacing failed furnaces, roofs, windows, and septic system repairs. These funds can provide for ADA modifications to homes as well, such as entrance ramps and bathroom modifications. 

To fulfill this grant, the Town must demonstrate that there is a demand and need for this program, that residents would welcome this assistance and would take advantage of the program to rehabilitate their homes. 

Please visit the Town’s website: www.putnamct.us and click on the “Redevelopment” page under “Departments” to fill out a “letter of intent”.