What exactly is a chip fund?

Question:My local paper advertised the following in the classified section:
"County Chip Fund now available for home owners or those shopping for a home. Funds available are $100,000 home repairs (furnaces, AC's, wheelchair ramps, handicapped accessible bathrooms, roofing, & septic systems). Private rehab $210,000 (windows, siding, furnaces, plumbing, heating, electric). Home buyer rehab downpayment assistance $117,000 (downpayment and home repairs). Contact County Planning for more information."
What does that mean?

Answers:
CHIP is the Community Housing Improvement Program. States receive money from the federal government which is in turn awarded to county or municipal governments to fund this program. Generally the funds can be used to provide grants to low income households for needed repairs, energy efficiency, handicap accessibility, etc. The funds may also be used to fund a revolving loan program to provide loans to low income households to help with down payments on a first time home purchase.

If you need repairs to your home and qualify as a low-income household, you should contact the county planning office to apply for a grant or loan.