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Assistance is
available to investors/owners for the rehabilitation of
residential properties to increase the availability of affordable,
decent, safe and sanitary rental units for very-low, low and
moderate income residents. Assistance may be provided in the form
of a low interest or deferred loan for a portion of the cost of
rehabilitation. Tenants of assisted units must be income-qualified
by the City and rent restrictions shall also apply for specific
periods of time, depending upon the amount of assistance provided
per unit (minimum of five years and up to 20 years for new
construction).
Applications for assistance will be received on a first come,
first served basis and funding will be provided as available.
Priority for funding will be given to projects sponsored by the
City, by Community Housing Development Organizations (CHDO's) and
non-profit organizations. Remaining funding will be provided to
other qualified applications on a first come, first serve basis.
In order to qualify
for this incentive, the project must be certified as an affordable
housing project under the Affordable Housing Certification process.
Contact:
Frances Dejesus 407-246-3413
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