South St. Pete Housing and Neighborhoods
South St. Pete Housing and Neighborhoods
Overview
These programs support both single-family homeownership and the development of multifamily residential housing in the South St. Petersburg Community Redevelopment Area (CRA). Click here for a map showing the boundaries of the South St. Petersburg CRA. 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.
Information Example Application
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 CRA program also provides funding to the Housing Rehabilitation Assistance Program, which provides funding to residents that need repairs to their homes for code compliance, safety, and accessibility. More information on the Housing Rehabilitation Assistance Program can be found here.
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.
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 |
Information Example application
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.
CRA Residents are eligible for City-wide Housing Grant programs. Please click here for additional City-wide housing programs and opportunities, including the Purchase Assistance Program.