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reinvesting in neighborhoods: A community-Wide priority The Cleveland Restoration Society is a valuable resource for all Shaker homeowners who care about home improvement and reinvesting in their community. The Society’s hugely successful Heritage Home Program, which began in 1992, has two components: n Free technical assistance, whereby CRS staff visit the property to answer the homeowners’ questions about improvement, restoration, and maintenance projects. They can also provide names of contractors and review the bids and estimates. Michael and Christine Peters used this service when they began work on their South Woodland home. n A low-interest loan, whereby home-owners can secure a fixed-rate, equity-based loan to cover the cost of maintenance and improvement projects. The loan is financed either through KeyBank or First Federal Lakewood. (Another option is the Heritage Home Purchase Program, which combines a purchase mortgage with a low-interest rehab loan.)   “Most improvement and maintenance projects qualify, both exterior and interior,” says Colin Compton, the CRS’s Heritage Home Program associate. “In Shaker, to date, we have done 383 site visits, and have signed 148 loans worth over $5.7 million in neighborhood reinvestment.” The Heritage Home Program, as its name implies, is specifically for homes that are at least 50 years old, making it ideal for most Shaker homes. For detailed information, call (216) 426-3116 or email hhp@heritagehomeprogram.org. SL ShAKer LIFE | FALL 2015 37


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