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Compliance Loan Program: 51 loans approved, average loan about $19,100; CARE subprogram activated for flood relief
Summary
Department of Neighborhood Services reported 51 Compliance Loan Program loans approved year to date totaling $666,443; average loan about $19,099; a new CLP CARE subprogram funded from flood-relief dollars provides up to $7,500 for emergency interior repairs.
Cassandra Tyler, compliance loan coordinator in the Department of Neighborhood Services, briefed the committee on the Compliance Loan Program (CLP). She said year to date the program has approved 51 loans totaling $666,443 and that the average loan amount is about $19,099. Tyler reported the average household income among CLP borrowers is…
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