Jan 2012
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COMMUNITY HOUSING IMPROVEMENT PROGRAM
The CHIP program is designed to bring affected 1-unit structures into compliance with the City of Elyria Housing Code and ODOD Residential Rehab Standards. This will be accomplished by a combination of making repairs to, altering or replacing the electrical, heating, plumbing and structural elements of the home.
The CHIP Program: offers a 0% deferred interest loan with a declining balance of 16% per year for the first five (5) years. The remaining 20% balance beginning in year six (6) will not have to be repaid to the City until the property changes title.
