Apr 22, 2013 8:29 AM by AP/CS
HOUMA, La. (AP) - The Terrebonne Parish Council is expected to approve a grant to build an affordable housing complex in Houma for people with disabilities.
The Community Development Block Grant agreement, if approved on Monday, will involve loaning the Start Corp. $800,000 to hire contractors to build Magnolia Lofts, an eight-unit, two-story apartment complex designed specifically for people with either mental or physical disabilities.
The Courier reports each unit will have a 30-year, no-interest mortgage that will be repaid to the parish over time.
Occupants will be required to pay a portion of what they earn each month based on their income. However, costs will not exceed 30 percent of their gross income.