Lead Hazard Reduction Loans

This program provides deferred loans to help you make your property “lead-safe.”  A portion of the loan will be forgiven if you live in/own your property for at least 5 years after receiving the loan.

Basic Program Eligibility
Your property is eligible if it has one of the following:

• Family with a child with an elevated blood level (EBL) of 10 or higher
• At least one unit on the property houses a child under six years of age or younger
• A pregnant woman resides in one of the units
• A child six years of age or younger resides in one of the units for a minimum of 30 days in one year

Income Limits
The following income limits apply:

• Owner-occupied properties: All units must be occupied by families at or below 80% of the median income
• Investment properties:  At least 50% of the apartments must be occupied by families at or below 80% of the median income
  

Loan Amount
The maximum loan available depends on the type of property being rehabilitated.  Properties in Local Historic Districts may qualify for additional assistance.

• Single Family Home:  Up to $15,000
• Multi-Family Home:  Up to $13,500 per unit

Loan Terms
This is a zero-interest, deferred loan program.  There are no monthly payments, and if you keep the property for five years, a portion of the loan will be forgiven:

• Owner-occupied properties:  50% of the loan will be forgiven 
• Investment properties:  25% of the loan will be forgiven
  

The loan is payable upon sale or transfer of the property.  At that time, a fee of 3% of the loan value will be assessed.  The loan value does not include any portion of the loan that has been forgiven.

Example:  You received a $15,000 loan to make your single family home lead-safe in 2007.  You decide to sell the house in 2015.  Because you have lived in the house for over 5 years since receiving the loan, $7,500 of your original loan will be forgiven.  Upon sale of the property, you will be required to pay back $7,725 (the remaining $7,500 of the original loan and a 3% fee on that $7,500).

Frequently Asked Questions 
Answers to frequently asked questions about lead hazard reduction loans.

Application Process 
Instructions on how to apply for a lead hazard reduction loan

Contact Us
For more information, please contact Barbara Barone, Verification Specialist:

Telephone:  401.351.4300 (extension 405)
Email:  This e-mail address is being protected from spambots. You need JavaScript enabled to view it