Rental Rehab Incentive Program

Loans targeted to small developers, investors, non-profits and others interested in providing small scale rental projects.

Purpose

To provide funding for small scale and scattered site projects;
To bring badly deteriorated or dilapidated housing units back into the rental housing stock;
To provide permanent supportive housing for special populations as defined by HUD, therefore priority is given to applications providing such;

Benefits

Maximum loan amount = $200,000 or 90% of appraised value, not to exceed $200,000;
0% interest rate amortized over a period not to exceed 360 months;
Required to rent to low to moderate (80% AMI or below) households using HOME rent limits;
Can be used for purchase and/or rehabilitation of vacant units

A neighborhood in Wilmington

Rental Rehab Incentive Program Webinar

At this time, we are not accepting any new applications for the Rental Rehab Incentive Program due to limited funding availability. If you are still interested in learning more about the program, you are welcome to join the webinar for informational purposes.

This is a MANDATORY workshop for the Rental Rehabilitation Incentive Loan Program. Participation is mandatory in order to submit a loan application for the loan program.

To register for Wednesday, September 25, 2024 Rental rehab webinar please click this link.

Please print and submit both of the following forms for consideration for this program:

Program Application(PDF, 266KB)

Rental Rehab Addendum(PDF, 182KB)

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“OPORTUNIDADES ECONÓMICAS DE LA SECCIÓN 3”(PDF, 970KB)