PEABODY – The second time is a charm for Community Development and Planning Director Jean Delios, after the City Council on Thursday approved her second request to supplement the existing Housing Rehabilitation Program.Per Delios? request and the approval from the Community Preservation Committee, $200,000 will be transferred from the Affordable Housing Reserve Fund to “assist low and moderate income households residing in substandard housing throughout the city.” The money will be used to install new windows and doors, replace siding, and make the homes safe and weather tight in accordance with current local building and access codes.Delios said the program “helps existing owners preserve affordability” and continue to live in their homes that they may otherwise lose.The money would be issued as a loan to families who meet strict guidelines like a combined household income that falls below 80 percent of the area wide median income. A maximum of $25,000 would be issued to rehabilitate each home, allowing for an additional eight houses to Peabody?s Affordable Housing list.Delios said that repayment of the loan would only be required if the homeowner sold the house within 15 years of receiving it. When and if that happens, the homeowner would be responsible for paying back just the principal, as there would be no accrued interest.Otherwise, residents who continue to live in their newly rehabilitated home past the 15 year minimum can consider the $25,000 as a nice bonus with no strings attached. They would, however, be responsible for any future upkeep.Councilor at Large Frederick Murtagh didn?t quite agree with giving away taxpayer money without some sort of repayment, but recognized the good in the program and voted in favor of the request.According to a report by Community Development, the program has assisted more than 1,800 homeowners over the past 20 years of its existence. At one time, there were over 100 applicants on the waiting list. That number has since gone down to 35.Councilor at Large James Liacos was concerned with making sure the money was given to households that really need it, not, say, homes with big screen televisions throughout the house, yet in need of a new heating system.Community Development assured the Council that such things would be considered.