PRESS RELEASE:

For Immediate Release

November 15, 2007

For Additional Information Contact:

Wendy Palliser, Manager, Housing Rehabilitation Loan Program

Lower Cape Cod Community Development Corporation

PO Box 1860, North Eastham, MA 02651

508-240-7873 x14, wendy@lowercape.org

The Lower Cape Cod CDC launches its 2007 Housing Rehab Loan Program

for Income-Eligible Year-Round Homeowners in Wellfleet and Provincetown

The Lower Cape Cod Community Development Corporation has announced that its 2007 Housing Rehabilitation Loan Program is under way for residents in Wellfleet and Provincetown.

The program offers 25 fifteen-year deferred, forgivable loans to income-eligible homeowners in the two towns. The mortgages are available for owner-occupied dwellings to address code, safety and health needs or failures. Income guidelines that apply are set by HUD (U.S. Department of Housing and Urban Development) according to size of household.

The Lower Cape Cod CDC processes applications for a home rehab mortgage on a first-come first-served basis and for this reason encourages homeowners to make inquiries as soon as possible by calling program manager Wendy Palliser at 508 240 7873 or 800 220 6202, ext 14.

The loan program is funded by a Small Cities Grant from the Massachusetts Department of Housing and Community Development. The grant was obtained by the Town of Wellfleet as part of the Wellfleet Regional Housing Rehabilitation Loan Program.

The Lower Cape Cod CDC exists to promote a vibrant and diverse community on the Lower Cape by addressing housing needs and encouraging small business development and job growth.

Working with Towns and local Housing Authorities, the CDC is approaching the issue of affordable housing from the supply side. This includes focusing on the preservation of existing housing in the community by working to provide affordable rehab loans.