Redevelopment Authority (CAP Services)
1725 W. River Drive
Stevens Point, WI 54481
Responsibilites
include:
- Improving the vitality of businesses and
neighborhoods.
- Expanding the City’s tax
base.
- Providing a portfolio of programs that include financing for housing
construction and rehabilitation, and home purchases and
improvements.
Available
Programs:
Housing Cost Reduction Initiative (HCRI)
Program:
A loan program designed to assist
qualified homebuyers by providing a portion of the down payment and
closing costs associated with the purchase of a house. The applicant must
be able to secure primary financing through a bank, credit union, or other
authorized lending institution.
Terms: Maximum Amount: $3,500 =
eligible closing costs and/or 50% of down
payment
Repayment: Based on monthly
budget
Interest Rate: 0%
Deferred Payment Loan Program
(DPL):
A loan program designed to make home
improvement loans available to low and moderate income homeowners.
The loan funds must be used toward improvements to the house that
correct health and safety problems, conserve energy, enhance the livability
of the property, and/or extend the life of the
property.
Terms: Maximum Amount:
$15,000
Interest Rate: 0%
Repayment: Deferred for as long as
owner resides in property mortgaged
Investor/Owner (I/O) Loan
Program:
A loan program designed to make home improvement loans
available to landlords renting to low and moderate income households. The
loan funds are available for improvements which correct health and safety
problems, conserve energy, enhance the livability of the property, and/or
extend the life of the property. Rents must fall into rent limits for the
area.
Terms: Maximum Amount: $12,000 per house or $6,000/unit in
multi-family dwellings
Repayment: Ten Year Loan/Monthly
Payments
Interest Rate: 4%
For more information, contact
the Redevelopment Authority Office:
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