The city seeks a landlord to participate in a pilot loan program to fix up a multiunit rental property.
The Office of Economic and Community Development created a Rental Rehabilitation Program, funded with $50,000 in federal grant money, Mayor Bill Courtright said.
OECD seeks an owner of a property with up to four rental units to be the first participant. The property owner must be in good standing with the city and have all taxes paid, said OECD Executive Director Linda Aebli.
The program goals include:
■ Increasing supply and long-term availability of affordable, standard rentals for low-income families.
■ Revitalizing and strengthening neighborhoods by addressing substandard rental housing conditions.
The program will provide deferred-payment loans to cover half the cost of correcting code violations. A deferred-payment loan is an interest-free, forgivable loan with no monthly payment, as long as all program requirements are met.
The maximum deferredpayment loan is $10,000 per unit. An additional $2,500 per unit will be provided for lead-based paint abatement.
To protect the city, a mortgage will be placed on the property during an “affordability period” of 10 to 20 years, depending on the dollar amount of subsidy received.
Additional funding may be made available after the first project is completed.
For information, call OECD at 570-348-4216. The Lackawanna County commissioners’ blood drive benefiting the American Red Cross will take place later this month at the historic Globe building, the future home of county government.
The drive will be held in the lobby of the former store, 123 Wyoming Ave., on Wednesday, Sept. 27, from 11 a.m. to 4 p.m.
Call 800-733-2767 or visit redcrossblood.org and enter “Lackawanna” to schedule an appointment.