Affordable rentals
Armour Place, Marshall's Garden, and the Olive House provide affordable and supportive rental homes.
Programs
Supportive services for Rapides Parish
The Inner-City Revitalization Corporation is pleased to provide the following supportive services here in the Rapides Parish area.
Homeownership training
An eight-hour homebuyer education class taught by lenders, realtors, and IRC staff. Graduates receive a certificate.
Housing & credit counseling
One-on-one and group sessions using the FDIC Money Smart curriculum to build knowledge, security, and confidence.
New construction
Single family homes built for homeownership under the HOME Single Family Development program.
CHDO certification
IRC is a certified Community Housing Development Organization through the Louisiana Housing Corporation.
Multifamily development
HOME funding for new construction or rehabilitation of affordable multifamily rental developments.
Homeownership Training Program
What is the Homeownership Training Program?
Homeownership training courses are offered in different locations throughout the year for anyone interested in learning more about the homeownership process.
What is offered
In a group setting, common issues are taught by lenders, realtors, and Inner-City's staff:
- Benefits and risks of homeownership
- The mortgage process
- Principles of financial management
- How to work with lenders and realtors
- Home upkeep and maintenance
Homebuyer education is an eight (8) hour class. Graduates will receive a certificate upon completion.
How to apply
Persons who wish to apply for assistance through the Inner-City Revitalization Corporation can contact a bank of their choice directly and request to pre-qualify for a home loan.
Banks participating with this program:
- BancorpSouth
- Red River Bank
- Sabine Bank
Unsure whether your bank participates, or need more assistance? Call us at (318) 442-1502. You may also contact us for training and counseling before approaching a lending institution.
Required for assessment
Please bring the following when you come in for an assessment:
- Statement of all monthly bills
- Louisiana picture ID
- Social Security card
- Proof of income (pay stubs, retirement, or SSI statement)
- Child support payment record (paying and receiving — court ordered only)
- Rent statement or utility bill (must clearly state name and address)
Housing & credit counseling
One-on-one and group counseling
A housing counselor will meet with you individually and in a group setting, using the FDIC Money Smart curriculum to build knowledge, security, and confidence. Topics covered:
- Bank On It — an introduction to bank services
- Borrowing Basics — an introduction to credit
- Check It Out — keeping a checking account
- Money Matters — keeping track of your money
- Pay Yourself First — save, save, save
- Keep It Safe — your rights as a consumer
- To Your Credit — your credit history and credit future
- Charge It Right — making credit cards work for you
- Your Own Home — homeownership and you
A $35 fee is charged for the credit report and credit assessment for individuals requesting their credit report.
CHDO
Community Housing Development Organizations
Inner-City is a Community Housing Development Organization (CHDO), certified through the Louisiana Housing Corporation.
What the certification means
C-H-D-O — Community Housing Development Organization, pronounced "cho-do." Under HOME, 15 percent of the HOME funds allocated to every participating jurisdiction (a city, county, multi-jurisdictional consortium, or state) is set aside for projects developed by CHDOs. That 15 percent set-aside is Congress's explicit effort to direct HOME program funds into the hands of nonprofit developers.
What is a CHDO?
As a private nonprofit organization with a 501(c) federal tax exemption, a CHDO must include providing decent, affordable housing to low-income households as one of its purposes in its charter, articles of incorporation, or by-laws. It must serve a specific, delineated geographic area — either a neighborhood, several neighborhoods, or the entire community, but not an entire state.
Single Family Development (SFD)
HOME provides funding to nonprofits certified as CHDOs for the new construction or rehabilitation of affordable single family homes. Homes built or rehabilitated with HOME funds must comply with required income restrictions and follow certain design and quality requirements. Development funds are awarded on a first-come, first-served basis through an application submitted in response to the published Notice of Funding Availability (NOFA).
Multifamily (Rental Housing)
HOME provides funding to units of general local government, public housing authorities, nonprofits, and for-profit entities for the new construction or rehabilitation of affordable multifamily rental developments. A proposed development must include at least eight (8) units of multifamily rental housing to be eligible for funding.
Not sure where to start?
Give us a call and we will help you figure out which program fits your situation — whether that is a class, a counseling session, or a conversation with a lender.