The Southern Indiana Development Commission has signed a memorandum of understanding with USDA Rural Development to help package applications for the USDA Section 504 Home Repair Program. The agreement was finalized during a meeting in Loogootee earlier this month. Officials say the program provides loans and grants to very-low-income homeowners for home repairs, modernization projects and removal of health and safety hazards. Under the program, eligible homeowners age 62 and older may qualify for grants up to $10,000, while loans of up to $40,000 are available with a 20-year term and a 1% fixed interest rate. SIDC officials say the organization will assist homeowners across several southwest Indiana counties, including Daviess, Martin, Knox, Pike, Dubois and Gibson counties, with the application process.
