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Section 504 Home Repair Program – This program provides loans and grants to low-income and elderly homeowners, respectively, to help cover the cost of repairing or modernizing their single ...
Maximum loans are $40,000 and maximum grants are $10,000, which can be used for improvements or renovations that make your home safer, more accessible or remove health and safety hazards ...
The grants can be applied to accessibility-related modifications like a walk-in bathtub, installing grab bars in showers and changes that make a home more accessible for those with disabilities.
Project grants are the most common form of grants and a large number are found in scientific research, technology development, education (such as Federal Pell Grants), social services, the arts and health care types of assistance. [citation needed] Formula grants provide funds as dictated by a law. Examples of this type of grant includes Aid to ...
In the United States, federal grants are economic aid issued by the United States government out of the general federal revenue. A federal grant is an award of financial assistance from a federal agency to a recipient to carry out a public purpose of support or stimulation authorized by a law of the United States.
However, federal regulations require that every single government that receives funds must provide 25 cents on their own for every HOME dollar used. [2] If for example a state plans to use $1 million of HOME funds during the year, HUD provides $750,000 (75%) and the State must provide $250,000 (25%) for the program to achieve the $1 million goal.