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Updated over 2 years ago on . Most recent reply

User Stats

5
Posts
2
Votes
Nico Corrao
  • Investor
  • Winchester, MA
2
Votes |
5
Posts

Community Development Block Grants - Maine

Nico Corrao
  • Investor
  • Winchester, MA
Posted

Hello,

I have a 12 unit that cashflows well and is need of some larger updates. 

I'd like to replace the building envelope and windows. The municipality has a fairly robust CDBG program available for projects like this and I was hoping to have a conversation with any folks who have used CDBG funds to do similar projects.
- Does the municipality restrict materials.
- Do they essentially become a GC partner (oversee fund disbursement, use preferred vendors etc?)

I have some cash available but am aware the CDBG loans/grants are low/no interest (or grants) and feel my own cash is better used elsewhere. 

Any guidance from someone with experience with this would be appreciated. 

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