Kent housing group gets loans, grants
Published 12:43 am, Wednesday, February 18, 2015
The funds would ensure the housing center, which is approaching its 40th year, will provide safe, affordable and well-maintained housing for years to come, it announced in a news release.
KVHE recently received a $467,500 loan from the U.S. Department of Agriculture to repair and modernize Templeton Farm.
In addition to the loan, the USDA is offering modifications to KVHE's existing loans to minimize the impact revitalization would have on the expenses of the complex.
The funding package provides a combination of loans, existing loan modifications and rental assistance for 17 of 24 units to leverage the KVHE board's investment of $24,000 contributed to the package at the loan closing.
The U.S. Department of Housing and Urban Development provides rental assistance for five apartments at Templeton Farm.
"The loan is the culmination of at least three years of hard work by the KVHE board of directors, USDA and Templeton Farm's management staff at Elderly Housing Management," board president Catherine Bachrach said. "KVHE contracted to have two required professional needs assessments completed in 2012 to determine capital improvement and accessibility needs. In the coming years, we will be working off the recommendations for major improvements, such as roofing, heating, paving and other needs. We acknowledge our long-standing collaboration with USDA and are grateful for the federal agency's ongoing support."
Bachrach said board members value the supporting contributions of local residents and entities through an annual appeal, local groups such as the Kent Lions Club, the town of Kent, St. Andrew's Episcopal Church, the Quality Thrift Shop and others, and grants from the Union Savings Bank Foundation and the Ellen Knowles Harcourt Foundation.
"Since 2009, we have used $104,000 of locally donated funds to replace 16 outdated kitchens and we will continue that effort until all of the kitchens are completed," she said.
In addition to three buildings housing 24 apartments, KVHE also owns the large red barn on the property, which houses the Templeton Farm office, common room, the Kent Senior Center and Kent's Masonic Lodge.