CDBG Loan Programs

Purpose of the Grant
The Community Development Block Grant (CDBG) program was enacted into law as part of the Housing and Community Development Act of 1974. It is a formula-allocated program that provides grants to eligible grantees – cities with populations over 50,000, urban counties with more than 200,000 people, and states (states are responsible for administering the program for small cities, rural counties, and unincorporated jurisdictions).

CDBG's main purpose is to provide decent, safe and sanitary housing, a suitable living environment and economic opportunities to low- and moderate-income (defined as households not exceeding 50% of the median income of the area) and moderate-income (defined as less than 80% of the area median income) people. To this day, CDBG remains the principal source of revenue for localities to utilize in devising flexible and comprehensive neighborhood strategies to prevent physical, economic, and social deterioration in lower-income neighborhoods and communities throughout the nation.
 
Programs
 
Housing Rehabilitation Loan Program
The Town of Enfield's Housing Rehabilitation Loan Program (PDF) provides income assistance to low- and moderate- income families for a variety of reasons.

First Time Homebuyer Program
The Town of Enfield's First Time Homebuyer Program (PDF) was established to encourage home ownership in the town, and residents may be eligible for a zero interest deferred loan.

Small Business Development Fund
The Town of Enfield and the Department of Housing and Urban Development have created a program, the Small Business Development Fund, to encourage and establish small business development and expansion in the Thompsonville Village Center District. Download the application (PDF).
 
Thompsonville Commercial Facade Incentive Grant
 The Town of Enfield offers Thompsonville small business owners financial assistance through the Thompsonville Commercial Facade Incentive Grant Application (PDF).

Loan Review Committee
The Town of Enfield's Loan Review Committee was formed by the town council at its meeting of February 22, 1983. The committee was established to review and approve all loan applications, review and approve all deferred payment loan applications, review and approve all combination loans and deferred payment loan applications, review and approve all forgiveness loans and recommend from time to time changes in the policies and guidelines of the residential rehabilitation program.

The voting membership of the committee is comprised of the following: 2 members of the town council, 3 citizen members, and 2 alternate members, each who shall reside in or have a place of business in one of the three designated target areas. The term of office is for 2 years. The committee meets on the first Tuesday of the month.