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Thursday, July 9, 2020

News & Updates

Grant applications accepted for housing repairs for seniors

Frankfort, IN — The Senior Homeowner Assistance for Repairs (SHARP) program is accepting applications for grants up to $15,000 for repairs or replacements to homes owned by low to moderate income seniors.  SHARP is a cooperative effort between the City of Frankfort, The Farmers Bank and the Federal Home Loan Bank of Indianapolis.  The purpose of SHARP is to help qualifying senior citizen homeowners address higher cost maintenance items such as roofs, windows, heating and air conditioning systems.  Also grants may be used to make accessibility modifications such as handicapped showers and access ramps.

This is the second year of the SHARP Program” stated Karen Gregerson, President and CEO of The Farmers Bank. “In our inaugural year, 2017, we were able to provide six homeowners with a total of over $35,000 of grants used for repairs.”   Administrator of the program, Tom Jameson stated, “Most of the recipients are people who have worked hard their entire lives. They frequently live on a fixed income and do not have the means to take care of larger expenses such as roofs, windows, and HVAC.  That is where this partnership between the city of Frankfort, The Farmers Bank and The Federal Home Loan Bank comes in.” 

 People who qualify are those low to moderate income residents of the City of Frankfort who are age 62 or older and have owned their own home for at least 18 months. The Office of the Housing and Urban Development establishes income guidelines that determine eligibility for the program.  For instance for a household of two persons the maximum household gross income is $39,500.  Qualifying improvements can include repair/replacement of existing heating, ventilation, air conditioning, repair or replacement of existing water heater, and energy conservation improvements such as windows, siding, roofing, gutters, downspouts, insulation and exterior doors.  Also certain plumbing and electrical improvements may be eligible.

Mayor Chris McBarnes commented, “It is our hope to benefit both the homeowner and our community by extending the useful life of the home through repair and rehabilitation.  This will make a meaningful difference in the condition of the home, allows the homeowner to age in place and generally improves the neighborhood and community.  Our goal is to double both the number and the dollar amount of the grants in 2018.” 

Homeowners who believe they may qualify are encouraged to contact the Mayor’s Office at (765)654-7332 to see if they are eligible.

The Farmers Bank is a $530 million asset organization chartered in 1876 with headquarters in Frankfort, IN.  The Farmers Bank is locally owned and operated with 10 banking offices located in Central Indiana providing retail, business, trust & asset management, investment, mortgage, and electronic banking services.  Additional information can be found at Member FDIC, Equal Housing Lender.