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Downstreet, council discuss underused flood-resiliency loan fund; city agrees to outreach insert
Summary
Downstreet Housing and councilors discussed a revolving loan fund seeded with ARPA funds to support home repairs and lower-income homeowners. Downstreet recommended targeted outreach; council directed staff to run a colorful 8.5-by-11 mailer in the next water/sewer bill cycle and to coordinate outreach to local realtors and agencies.
At the Aug. 26 Barre City Council meeting, Downstreet Housing Director Angie Harbin reported that a revolving loan fund (RLF) established with ARPA for post‑flood housing repairs had seen little use and asked whether the city wanted to (1) partner on targeted outreach to find eligible households or (2) reallocate the funds to different housing purposes.
Why it matters: The RLF is intended to expand access to repairs and predevelopment assistance for lower‑income homeowners affected by flooding. Downstreet said its existing home-repair product — which can include a combination of grants and low-interest loans up to $20,000 — has generally met most applicants’ needs, reducing demand for the city RLF in its current form.
Downstreet’s options and council response: Harbin told the council that many applicants seek products that avoid amortized payments and that a "silent loan" tied to future sale proceeds could increase uptake but would reduce repayment predictability. She also suggested using funds to help predevelopment (infill) work or to support buyers planning to sell homes after wiring/re-wiring or other fixes. Councilors and staff discussed marketing: the council agreed to a targeted outreach campaign using city channels.
Immediate action: Downstreet volunteered to prepare an 8.5-by-11, color insert for the city’s water/sewer billing envelope explaining the RLF, and staff agreed to include the insert in the next billing cycle (roughly 30–45 days to prepare). Downstreet also volunteered to contact local realtors and to make materials available at City Hall, the library and other public locations; the council suggested placing materials in election‑related public spaces. The council agreed to assess uptake after about six months before considering reallocation.
Financial and program details from the meeting: Downstreet’s home-repair product typically covers work up to $20,000 and can mix grants and silent loans. City staff noted the RLF was seeded with ARPA money and that the fund’s original purpose was housing repairs in flood-affected neighborhoods.
Taper: Councilors asked Downstreet to proceed with the mailer and realtor outreach; staff will report back with metrics on inquiries and applications after the outreach period. If uptake remains low, councilors said they would consider reallocation options consistent with ARPA restrictions.
