East Moline offering home improvement loans through lottery
News from Quad-Cities Online:

EAST MOLINE — Homeowners with limited income could win a forgivable home-improvement loan in a Nov. 10 city lottery.

City staffers will pull 20 names at random from those who have applied. They then will go down the list in the order the names were pulled, verify the homeowner’s qualifications, then issue money until it is expended. 

There is enough money in one fund to provide $ 20,000 each to two homeowners and enough in the other fund to provide four $ 14,999 forgivable loans, city administrator Cole O’Donnell said.

However, if the homeowners selected don’t need the full amount available, the money could be spread to the other recipients in smaller loans.

There are no restrictions on what home improvements can be made. 

To qualify, homeowners must:

– Turn in a completed lottery application by 4:30 p.m. Nov. 5 at the East Moline City Hall Annex, 912 16th Ave.

– Live in the home they wish to use the funds for. Only one application is allowed for each home.

– Meet income requirements.

Qualifying income ranges are based on household size and divided into two categories. 

– Very low income: $ 22,000 for one person, $ 25,150 for two people, $ 28,300 for three, $ 31,400 for four, $ 33,950 for five, $ 36,450 for six, $ 38,950 for seven and…………… continues on Quad-Cities Online

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