The Rental Rehabilitation Loan Program aims to improve the conditions of rental housing by providing zero percent interest deferred loans to property owners for the rehabilitation of their affordable rental units occupied by low-income families.

Rental Rehabilitation Loan Program success story

Loan Highlights

• Up to $15,000 per rental unit
• 20-year 0% interest loan
• 10% private fund match
• Rehabilitate 2 to 10 units
• Maximum amount $150,000
• No prepayment penalty

Example:
A property owner requesting $50,000 in City Rental Rehabilitation Loan Program funds will be required to provide a $5,000 match.

Below, please find:  Eligibility Requirements, Eligible Improvement Items, How to Apply, Benefits of the Program, Program Application, Program Spanish Fact Sheet.

ELIGIBILITY REQUIREMENTS

• APPLICANTS

ELIGIBLE IMPROVEMENT ITEMS

• GENERAL

• ITEMS
  
  Appliances
  Bathtubs
  Cooling
  Counter tops
  Doors
  Electrical panels
  Exhaust fans/vents
  Facia board
  Faucets
  Fireplace
  Floor covering
  Foundations and structural problems
  Gas hookup
  GFCI’s Heating
  Insulation
  Kitchen and bath cabinets
  Lead-based paint abatement
  Light fixtures
  Painting
  Pest control mediation
  Plumbing
  Roofing
  Security bars
  Smoke alarm
  Toilets
  Water heater
  Windows

HOW TO APPLY

BENEFITS OF THE PROGRAM

• Improves the City’s rental housing stock
• Ensures housing quality standards are maintained
• Provides safe and decent housing to working families
• Repayments to fund future rehabilitation projects
• Attracts quality renters
• Reduces long-term maintenance costs

Links

Download Acrobat to view the following pdf document:

Rental Rehabilitation Loan Program Application (pdf)

Rental Rehabilitation Loan Program Spanish Fact Sheet (pdf)