The City of Tampa’s Owner-Occupied Rehab Program is a critical initiative aimed at addressing the housing needs of low and moderate-income homeowners in the city.
The program provides financial assistance to homeowners who are unable to afford necessary repairs and bringing their homes up to code.
The program offers various loan terms, including repayment, deferred, and grant options, with 0% interest rates and forgiveness at the end of the loan term.
Additionally, the program provides additional services such as weatherization, accessibility improvements, and addressing lead-based paint remediation and environmental issues.
Despite its significance, the program has been put on hold due to an overwhelming volume of applications.
As a result, many homeowners in Tampa are left without the necessary support to improve and maintain their homes.
By examining the program’s eligibility criteria, loan terms, and additional services, we can understand how the program has helped homeowners in the past and how its revival could benefit the community in the future.
Key Takeaways
- The City of Tampa’s Owner-Occupied Rehab Program helps low/moderate-income families maintain safe and affordable housing.
- The program offers financial assistance to eligible homeowners for necessary repairs, including structural, electrical, plumbing, and HVAC systems, among others.
- Loan terms include a repayment loan/deferred loan/grant, 0% interest rate, varied term based on the amount of assistance, and forgiveness at the end of the loan term.
- The program is currently on hold and not accepting applications until further notice due to an overwhelming volume of applications received by June 20, 2022.
Program Overview
The City of Tampa’s Owner-Occupied Rehab Program is a financial assistance program that aims to help low/moderate-income families maintain decent, safe, and affordable housing and Tampa duplexes by providing funding for necessary repairs.
The program assists homeowners who are financially unable to comply with the City’s Florida Building Code or make essential repairs to their homes. Eligible repairs include roofing, electrical, plumbing, HVAC systems, accessibility improvements, among others, as well as lead-based paint remediation and other environmental issues.
The program offers loan terms that vary based on the amount of financial assistance provided and eligibility determined by the current income limits based on the 2022 HUD Income Limits. Funding sources are available in the form of repayment loan/deferred loan/grant, with 0% interest rate, and forgiveness at the end of the loan term.
The program has seen success stories in assisting homeowners in need of necessary repairs to maintain their homes and improve their living conditions.
Eligibility and Loan Terms
Eligibility for the Owner-Occupied Rehab program is based on current income limits, which are determined by 80% of the AMI based on 2022 HUD Income Limits. This means that households with an income at or below 80% of the Area Median Income are eligible to apply for the program.
Additionally, eligible repairs must be necessary to bring the home into compliance with the City’s Florida Building Code or to make other needed repairs, such as lead-based paint remediation or accessibility improvements.
Loan terms for the Owner-Occupied Rehab program include repayment loan, deferred loan, or grant options. The interest rate for the program is 0%, and the repayment term varies based on the amount of assistance provided. The program also offers forgiveness at the end of the loan term.
Homeowners who are financially unable to bring their homes into compliance with the City’s Florida Building Code or make other needed repairs can benefit from this program. The Owner-Occupied Rehab program provides a solution to low/moderate-income families who need assistance in maintaining decent, safe, and affordable housing.
Additional Services and Contact Information
For homeowners who require more than just repairs to bring their homes up to code, the Owner-Occupied Rehab program also offers additional services such as weatherization, accessibility improvements, and environmental remediation.
Weatherization services include the installation of energy-efficient windows, doors, and insulation to improve the overall energy efficiency of the home.
Accessibility improvements include the installation of ramps, widening of doorways, and modifications to bathrooms and countertops to make the home more accessible for individuals with disabilities.
Furthermore, the program also addresses lead-based paint remediation and other environmental issues. This is particularly important for older homes that may have lead-based paint, which can pose a significant health risk to residents.
The program provides assistance to homeowners in identifying and addressing lead-based paint hazards, ensuring that their homes are safe and healthy for their families.
Overall, these additional services provided by the Owner-Occupied Rehab program go beyond just repairs, helping homeowners to improve their overall quality of life and create safe, healthy, and comfortable homes.
Resource: https://www.tampa.gov/housing-and-community-development/programs/owner-occupied-rehab