Holbrook is preparing to apply for a grant from the Massachusetts Community Development Block Grant Program, which funds housing rehabilitation, business assistance, and other development projects. Wayne Darragh, a grant management consultant working with the town, said in an interview that Holbrook has not received the grant since 2005 and that reduced federal funding has made the process more competitive. The town used previous funds to give home-repair loans to Holbrook and Randolph homeowners. Although Holbrook has continued to make loans using money repaid by borrowers, the program is nearly out of income because loans are repaid slowly, Darragh said. Officials are seeking public input before they apply; the Board of Selectmen will hold a hearing Wednesday at 7:15 p.m. at Town Hall. According to the hearing notice, items already under consideration include construction or rehabilitation of a senior center, public social services, and housing rehabilitation. Full story for BostonGlobe.com subscribers.