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(Where there are two or four tenants the requirement is 50%.)<li>All tenants have written rental agreements that conform to Vermont law.<li>The property complies with Brattleboro zoning requirements and either complies with building, fire and health codes or will use the loan to come into compliance.<li>The owner has at least 20% equity in the property to be improved.<li>The owner is current with all taxes on Brattleboro property s/he owns or has an interest in.</ul><h3>What work is eligible?</h3><p>A variety of repairs or improvements are eligible, including:<ul><li>Bringing the property into compliance with applicable codes<li>Creation or rehabilitation of rental units in a single- or multi-family building<li>Structural repairs<li>Electrical, plumbing or heating improvements<li>Weatherization<li>Accessibility modifications<li>Lead paint or asbestos abatement</ul><p>Loans may not be made for routine maintenance.<h3>Loan Terms</h3><ul><li>Loans may be for any amount from $3,000 to $25,000.<li>Loans may be for a period of up to 10 years.<li>Interest will be 50% of the Prime interest rate with a minimum of 3%.<li>Loans will be secured by promissory notes and mortgage deeds, as applicable.</ul><h3>Affordability Requirement</h3><p>Borrowers will be required to keep rent and utility costs at a level affordable to low- or moderate-income tenants for 5 years or the duration of the loan, whichever is longer.<h3>How do I apply?</h3><p>The application process includes the following steps:<ol><li>A preliminary application form is completed.<li>The Loan Coordinator reviews the project’s eligibility.<li>A full application and processing fee are submitted. Information is required about the building’s and owner’s finances. <b>  ( </b> Personal financial information is reviewed only by a two-person credit committee and does not become public record.)<li>A site visit is conducted to review the proposed work and budget.<li>The Loan Review Committee reviews the application and makes a recommendation.<li>The Selectboard makes the final decision on the loan.</ol><h3><b> For </b> more <b> information </b></h3><p>… or a preliminary application form, please call the Town of Brattleboro’s Grants Manager at 251-8122.</div></article></main></div><div class="small-12 medium-3 large-3 columns"data-equalizer-watch id=sidebar role=complementary><div id=programnav role=navigation></div><article class="panel widget widget_search"id=search-2><form action=https://baahvermont.org/ class=searchform id=searchform role=search><div><label class=screen-reader-text for=s>Search for:</label><input id=s name=s><input id=searchsubmit type=submit value=Search></div></form></article><article class="panel widget widget_text"id=text-3><h3>BAAH</h3><div class=textwidget><p><img src=https://baahvermont.org/wp-content/uploads/2015/07/baah_volunteers.png><p><a class=button href=https://baahvermont.org/our-programs/> Explore Our Programs </a> <br> <a class="button donate"href=https://baahvermont.org/support-baah/donations/> Donations </a></div></article></div></div><div class=row id=footer><div class="small-12 columns"id=footer_info></div><div class="small-12 columns"id=copyline><p class=site-info>©2021 Brattleboro Area Affordable Housing / Site by <a href=http://www.musearts.com/> MuseArts </a></div></div><script id=wp-embed-js src=https://baahvermont.org/wp-includes/js/wp-embed.min.js?ver=2a7202c43ff01e7071d98050a9af01a9></script><script>jQuery(document).foundation();</script>