In a press release issued by the borough, Council President Kelly Murphy said, “We know we have a great community in Columbia. With this program, we want to enable homebuyers and homeowners to invest in their residences. This will have a ripple effect within the area – sprucing up a well-traveled corridor at the entry to our city, spurring neighbors and business owners to update their properties and building pride throughout Columbia.”
During the first year, which begins March 1, the borough and LHOP will each provide $150,000 in funding. $200,000 will be designated for home rehabilitation improvements and the other $100,000 directly for home purchasing costs.
Home Improvement Loans ranging from $500 to $15,000 will be available through an application process for single-family homes either currently occupied as a primary residence or that will be inhabited as a primary residence once renovations are completed. Following LHOP’s existing First Time Homebuyers Program, Homeownership Loans up to $10,000 will be available via an application process for first-time homebuyers who have not owned a home within the last three years. For both programs, eligibility is income specific, based on area median income as determined annually by the U.S. Department of Housing and Urban Development.
Ray D’Agostino, LHOP’s executive director
“LHOP is excited to partner with Columbia Borough to offer a program enhancing housing conditions and increasing home ownership opportunities,” said Ray D’Agostino, executive director of the nonprofit, in a press release. “In a real sense, the program will improve living conditions and make home ownership more attainable and affordable in Columbia. LHOP and Columbia are grateful to the Lancaster County Community Foundation for seed funding LHOP’s housing improvement initiative, which has made this collaboration possible.”
Since 2014, LHOP has worked with eight homebuyers in Columbia to achieve home ownership, three of which are still in the works. With this new program, additional residents will be able to overcome obstacles to purchasing their own houses.
Columbia will be considering applications for houses in the 200-500 blocks of North Third Street and the surrounding neighborhood, including North Second. Renovations can be for the main home, but not for sheds or garages, and can include exterior façade updates or internal improvements. Staff will be available at the Columbia Life Network, 336 Locust Street, twice a month to answer questions and help prepare applications.
LHOP is a nonprofit organization, certified as a U.S. Treasury Department-approved Community Development Financial Institution, able to underwrite and administer loans. Part of the program’s coordination will be through the Lancaster Housing and Redevelopment Authorities, to tap the federally funded Home Repair Program.
The initiative’s partners intend to create a revolving fund process, wherein repayment of the borrowed funds will be used to institute new housing improvement and home ownership opportunities within the borough.
Columbia Spy 