Free money available for Quincy residents

The city of Quincy has two programs...the single-family, owner-occupied rehabilitation program and the small rental properties program.

If you're interested in taking advantage of these programs, there are some guidelines. Qualified homes run as far north as Locust Street and as far south as Harrison Street. That includes homes from 16th street to 2nd street.

Now, here's how the programs work. The Single Family Owner-Occupied Rehab program is designed to keep elderly residents in their homes. The Quincy Senior Center determines which seniors have the most need. If you have a need, here's what you have to do: Apply to the Senior Center for loans up to $40,000 dollars. The amount you might get is based on the amount of work your home needs. Here's the great thing about this program...if you commit to the program for five years, your loans will be forgiven. But if you sell your home before the loan expires, you'll have to repay a portion of the loan remaining after the sale of your home.

If you're a landlord and want to take advantage of the small rental properties program, you would get up to $15,000 dollars for each rental unit, but no more than 11 units. Landlords also will have to pay for at least 25% of the renovations. Your rehabbed units must provide housing for low-income families. Again, you must commit for five years, or you'll be penalized.