With material prices at an all-time high and lending hard to obtain, doing home projects may be put on the back burner. But the City of Williston has formed a program to encourage property improvement in an affordable way.
The City Commission passed Resolution 23-003 in February that allows certain homes the opportunity to apply for a low-interest loan through the Neighborhood Revitalization Program.
“The main goal is to help people with an affordable loan … to be able to do repairs and upgrades to their homes if they have been wanting to do this for a while,” said Mark Schneider, director of development services for the City of Williston. “Interest rates are so high and it's hard to borrow money nowadays. I think it's just a very affordable way for people to make improvements to their property, which then gets other people to want to make improvements to their house as well. It can help revitalize neighborhoods.”
Partnering with Gate City Bank, this loan program offers rates as low as 3% fixed interest payable over 10 years or 3.5% on a 15-year loan for projects ranging from $10,000-$100,000.
To be considered for this program, properties must be within Williston city limits, zoned residential and out of the 100-year flood plain. The property must be owner-occupied, current on taxes and special assessments and valued at $275,000 or less.
Projects that can be considered may include but are not limited to foundation work, exterior improvements, garages, additions, interior remodeling, replacement of mechanical systems, water and sewer line repairs, mold remediation and radon mitigation.
Gate City Bank brought the idea for the program to the city to see if they would consider working together to bring it to the community. The City of Williston already has a builders incentive and a home-buyers incentive and was glad to find a way to help people in existing homes.
“Once you start improving certain homes in the community, it’s kind of catchy and it’ll spur other people on to take care of their property, too.” Schneider said. “We are hoping it catches on and gives a positive influence”
To apply, the form can be found on the city’s website under Building Safety - Neighborhood Revitalization Program, or at the Building Department office located at 113 4th Street East. There is an application fee of $25 that will be applied to the cost of the building permit. Applications are due to the Building Department by October 31.
So far, the city has had 10 applicants with projects ranging from exterior siding, roof and windows to new garages, interior painting, flooring and electrical. If the program is successful, there is a possibility it can be renewed.
For questions about this program, contact Shiann Williams at 701-577-8155.