HAGÅTÑA (The Guam Daily Post) — Guam Del. James Moylan is trying to make money available to island residents who are at least 62 years of age and need to make repairs to their home.
Moylan said he has partnered with the U.S. Department of Agriculture offices in Guam and Hawaii to help promote their various programs, one of which is the Section 504 program.
“The Section 504 program provides qualified manåmko’, who are at least 62 years of age, access to grants up to $10,000 and loans up to $40,000. Loan interest rates are 1%, and terms are up to 20 years. Those approved can utilize these funds to either remove safety or health hazards around their homes or make key home improvements,” a press release from the delegate’s office said Wednesday.
The low-interest loans can be used for various purposes, including roof replacement, electrical upgrades, repairing bathrooms and remodeling the home.
“The Section 504 program would assist many financially disadvantaged manåmko’ secure funds to make needed repairs in or around their homes,” Moylan said in the release.
The congressman presented the Section 504 program to the Mayors’ Council of Guam on Wednesday, noting that the island mayors are more aware of those who may qualify.
“The mayors are the front line who can identify which families within their respective villages would qualify for Section 504. We will be working with the MCOG in scheduling application submittal days in respective mayoral offices and will be sharing this information publicly once they are set,” said Moylan.
Moylan said the federal dollars are in place for the program.
“We want to make sure that many qualified residents of Guam would benefit from these funds so that they can improve their homes and surroundings,” Moylan said.
Guam Del. James Moylan makes an appearance at the Mayors’ Council of Guam meeting to make an announcement on Wednesday, April 3, 2024 in Hagåtña.
