South St. Pete Housing-Based Grants
South St. Pete Housing-based Grants
These programs will support both single-family homeownership and the development of multifamily residential. Funding will be made available on a first come, first served basis.
Affordable Residential Property Improvement Grant
The Affordable Residential Property Improvement Grant reimburses approved applicants for eligible exterior and interior improvements on affordable residential housing in the CRA. An applicant may receive a reimbursable grant equaling up to 40% of the pre-construction value of eligible improvements.
Affordable Multifamily Housing Development Program
The Affordable Multifamily Housing Development Program provides an annual incentive for up to 15 years to promote the development of affordable housing in the South St. Petersburg CRA. The incentive, which must first be approved by City Council before undertaking construction, is based on the following formula:
|4 to 30 units||up to $1,000/unit per year|
|31 to 99 units||up to $750/unit per year|
|100 units or more||up to $500/unit per year|
Affordable Housing Redevelopment Loan Program
The Affordable Housing Redevelopment Loan Program provides funding through a variety of loan products such as bridge loans, loan guarantees, and low-interest or forgivable loans to support affordable housing development in the South St. Petersburg CRA.
Affordable Single-Family Homeownership Program
The Affordable Single-Family Homeownership Program provides funding to support affordable homeownership for income-eligible households in the South St. Petersburg CRA through direct financial assistance programs. Awards are in the form of loans with a term of 5, 10 or 15 years. This program has been reestablished to include the Rehabilitation Assistance Program, which provides funding to owner occupied residential dwelling units for home repairs, to correct code violations and to address deficiencies that could impair the health and safety of the household occupants. Awards are in the form of loans with a term of 5, 10 or 15 years.
Affordable Single-Family Facade Improvement Grant Program
The Affordable Single-Family Facade Improvement Grant Program provides funding to income-eligible owner-occupants of single-family homes to upgrade and refresh the exterior of their properties.