The City of Nash has received a HOME Investment Partnerships Program grant from the Texas Department of Housing and Community Affairs to build new houses for low-income homeowners.
The purpose of the HOME Program is to expand the supply of decent, safe, and affordable housing for low-income households. The program provides funds to demolish substandard housing and build a new home on the same site. To qualify for the program, homeowners must live in a substandard home, reside within the city limits of Nash, own their own home, be current on their property taxes, have clear title to their property, and have an income at or below 80% of the Bowie County median income.
There is no cost to the homeowner to participate in the HOME Program. The assistance is provided in the form of a conditional grant for five years or a deferred forgivable loan 15 years. If the homeowner sells their home within that time period, they must repay a portion of the cost of the home. After that time period, the grant or loan is forgiven.
