News Release

Wes Bunch
Communications Coordinator, East TN
(865) 210-1292
WBunch@thda.org

Funds will help renovate substandard homes

Unicoi County, Town of Unicoi awarded HOME grants from
THDA
Aug. 24, 2023 – Tennessee Housing Development Agency has awarded a pair of HOME
Program grants totaling over $600,000 to help make much-needed repairs to substandard homes
for elderly and disabled residents.

Unicoi County was awarded a $398,560 HOME grant from THDA, while the Town of Unicoi
received $249,100 in grant funding.

The HOME program is funded by the U.S. Department of Housing and Urban Development and
is administered in part in Tennessee by THDA. During the most recent funding round, THDA
awarded five competitive HOME grants statewide totaling $2.25 million.

“Providing safe, decent housing is important for all Tennesseans, and with the help of these
HOME funds, both Unicoi County and the Town of Unicoi will be able to ensure more residents
have access to just that,” THDA Executive Director Ralph M. Perrey said.

Unicoi County plans to use the funds to renovate or rebuild at homes located in the county, while
the town will use its funding to repair or rebuild homes within its limits. Both projects will
benefit very-low and low-income individuals that do not have the financial resources to make
needed improvements to their residences.

The next step for both the city and county will be to hold public meetings to outline application
procedures and grant guidelines. Once applications are received, a priority list will be formed
based on the level of rehabilitation work required, as well as each applicant’s socioeconomic
factors. Homes that cannot be brought up to code will not be considered for the project.

The grant is being administered on behalf of the town and county by the First Tennessee
Development District.

Each home selected under the program will receive a per-unit subsidy for rehabilitation that will
bring it up to code.

Financial assistance for home repairs will be provided in the form of a deferred grant that is
forgivable at 20 percent per year if the family remains in compliance.

502 Deaderick Street, Third Floor, Nashville, TN 37243

615-815-2200 THDA.org
 Tennessee Housing Development Agency, Page 2

HOME grants must be used for the production, preservation, or rehabilitation of affordable
housing for low and very low income families and individuals.

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As the State’s housing finance agency, the Tennessee Housing Development Agency
(THDA) is a self-sufficient, independently funded, publicly accountable entity of the State
of Tennessee. Our purpose is to meaningfully expand safe, sound, affordable housing
opportunities for low and moderate income Tennesseans. More information about THDA
can be found online at THDA.org.

502 Deaderick Street, Third Floor, Nashville, TN 37243

615-815-2200 www.thda.org