A grant opportunity through the Indiana Housing and Community Development Authority was highlighted during last week’s Argos Town Council meeting.
Councilwoman Suzanne Umbaugh presented the information during the meeting and explained that through this specific IHCDA program, the Town would donate three lots where housing could be built.
Clerk-Treasurer Lisa Mullaney shared that the houses would be about 1,200 square feet and would be on the market for under $100,000.
She added that homeowners would be entitled to $40,000 grants but interested individuals would have to meet certain credit score and income requirements.
The housing would be available to low to moderate income families and the would-be homeowner would need a credit score that reflects their ability to pay the mortgage on the home.
Mullaney noted that the Town of Bourbon recently took advantage of this same program.
While discussing the matter at last Wednesday’s meeting, Council President George Null said he would check to see if the Town has any lots that are currently available. However, Mullaney said their options are kind of limited at this time. In order to pursue this opportunity, some lots may have to be purchased or additional property could be annexed into the town.
Mullaney mentioned that the next chance to apply for this grant will be in the spring so officials have plenty of time to decide what next steps should be taken.
