This spring Preservation Buffalo Niagara will launch our Historic Home Loan Fund Program, generously funded by the 1772 Foundation and the Estate of Paul Maine.
“The protection and restoration of our region’s historic homes and neighborhoods are an important part of Preservation Buffalo Niagara’s mission.” explains Jessie Fisher, Executive Director of Preservation Buffalo Niagara. “The expenses related to such restoration sometimes discourages lower income homeowners from taking care of home restoration projects promptly, which can cause further expense or loss of historic fabric, and may also discourage neighborhoods from seeking local historic district status over concerns regarding regulations. This program will assist low income homeowners with historic properties to ensure that all of our neighborhoods are able to access the benefits of historic preservation.”
Major funding for this program was provided by the 1772 Foundation, a foundation that supports revolving loan funds across the country.
Homeowners of historic houses within the City of Buffalo are invited to apply for up to $10000 in loan funding at 3% interest for exterior restoration projects such as porch, roof, siding and window repairs, code compliance issues, accessibility modifications, and repairs to any other exterior character defining features.
This funding is intended specifically for homeowners who intend to remain in their homes for at least five years who make up to 112% of the Area Income Limits for Low Income Families as defined by New York State Affordable Housing Corporation.
Further, the home must be owner-occupied, within a local historic district or individually landmarked, and with work to be performed consistent with the Secretary of the Interior’s Standards for Rehabilitation. PBN staff will assist homeowners in getting an appropriate scope of work and hiring contractors.