Depending on the family income homeowners in our program may receive a 100% grant or pay for up to half the cost of the work. The payments are placed in a revolving loan fund to assist families when HOW doesn’t have an active grant.
Example: If a family receives $3,400 for a furnace from a grant, they may pay back up to ½ into the revolving loan account. That results in $1,700 of the grant money going back into the RLF to assist a future family, who maybe has a radon mitigation system done at the cost of $800.00, and they are on social security only, so they pay back 10% which is $80.00. In the end, the donation or grant funds of $3,400 produced $1,780.00 more of funding to help more families, and on top of that, $5,180 went to local contractors, which went back into our community’s economy.