Housing & Community Development

CITY HOME Program

PURPOSE:
To provide loan funds for the rehabilitation, construction and/or acquisition of owner-occupied housing for moderate income working families.

Distribution:
Competitive application process. Rolling or RFP.

Application:
Please submit two completed copies of the application.
Note: One application must be submitted for each project address.

Maximum Per Unit CHP Loan:
$50,000 a unit for non-historic properties or $60,000 a unit for historic properties.

Eligible Use of Funds:
Moderate rehabilitation (less than $10,000 per unit)
Substantial rehabilitation (over $25,000 per unit)
New construction
Acquisition for rehabilitation and/or resale to a moderate income buyer.

Ineligible Uses:
Non-owner occupied rental housing
Homebuyer financing

Eligible Applicants:
CHDOs
Nonprofit Developers
For-profit Developers

Income Targeting:
100%: Housing for persons with incomes between 81% and 120% of area median as published by RI Housing.

Conformance with Consolidated Plan:
All projects must be in conformance with the City of Providence's Consolidated Plan 2005-2010

Program Regulations:
City Home Program Rules and Regulations