Rental Rehabilitation Loan Program

How it works

The Rental Rehab Loan Program helps property owners make major repairs and improvements to rental properties. The City says the program can be used to:

• make major repairs
• implement energy-efficiency upgrades
• comply with building codes and regulations

The program is aimed at owners of properties that charge no more than fair market rents.

What the money covers

The page does not provide a full itemized scope of work beyond major repairs, energy-efficiency upgrades, and code/regulation compliance. It also notes that loan amounts depend on the number of housing units in the property.

Amounts and matching

The City offers access to up to $200,000 in low-cost loans, but the maximum depends on unit count:

• 1-6 housing units: up to $75,000
• 7-12 housing units: up to $150,000
• 13-20 housing units: up to $200,000

For the first year, the City will waive the $75 application fee and offer more attractive loan terms for properties within identified north, south, and southwest neighborhood boundaries. The page says Geomap can help determine whether a property is in one of these targeted areas, identified as census tracts 6, 14.01, and 21.

How to apply

The page links to:

• Rental Rehabilitation Loan Program Guidelines
• Rental Rehabilitation Loan Program Application
• Program Flyer (includes map of targeted areas)

Timing and deadlines

The page does not state a closing date. It only says the fee waiver and more attractive loan terms are available for the first year.

Additional notes

The page indicates that loan amounts are also dependent on the number of units in the property and that the program is intended to help owners update or improve housing units.