WHAT IS THE RENTAL REHAB PROGRAM?

The Rental Rehab Program (RRP) is a loan program designed to increase the availability of affordable, quality rental housing for low‑income families throughout the City.  RRP loan funds can only be used to finance repair and renovation work. Acquisition and soft costs, such as architectural plans, drawings, and financing costs, are not eligible costs. Depending on the financial analysis of the project, the loans may be deferred, forgiven, cash flow, or amortized.

WHO MAY PARTICIPATE?

Owners who agree to follow RRP guidelines in providing decent, safe, and sanitary housing to low-income households at an affordable rent are eligible to participate.

HOW MUCH ASSISTANCE CAN I QUALIFY FOR?

The RRP will provide up to fifty percent of the total rehab cost or up to the per unit maximum of $5,000 for each one- bedroom unit, $8,000 for each two-bedroom unit, or $13,000 for each three-bedroom or larger unit, whichever is less, for projects with 10 or 11 units.   Projects of 12 or more units will be funded according to need determined by underwriting or  up to 50% of total rehab costs, whichever is less. Owners of projects of 12 or more units will be required to also provide pro formas,  after rehabilitation appraisals, sources and uses statements, and any additional information necessary to determine the project needs.

Owners with buildings that are vacant can receive up to $14,999 for half of the units regardless of the number of bedrooms.

IS MY PROJECT ELIGIBLE TO RECEIVE RENTAL REHAB FUNDS?

To participate in RRP, the following requirements must be met:

1. The building must be located within the City of Cincinnati, contain at least 10 dwelling units or more and require a minimum of $3,000 of rehabilitation work for each dwelling unit.

2. Upon completion of the project the Owner agrees to rent a percentage of the units to low-income tenants at or below 60% of the median area income.

3. Owners agree to set maximum rents charged per unit. 

4. The Owner must arrange for the City to conduct annual maintenance inspections of the property.

5. The Owner must report tenant income and rental information each year.

6. RRP funds will not be used to assist owner-occupied units.

7. The Owner must possess a fee simple title to the property.

 WHAT IS THE APPLICATION PROCESS?

1. A non-refundable $250.00 application fee will be required at the time of application.

2. All projects will be initially inspected by a City Building Inspector and the City’s architectural consultant to  existing building conditions and the necessary scope of the rehab work.

3. The City will provide a preliminary scope of work and construction specifications for the owner. The owner is responsible for securing and paying for building plans and/or drawings should they be required.

4. All loans are reviewed by a committee comprised of banking and finance professionals.

To apply contact the Department at (513) 352-6146 or communitydevelopment@cincinnati-oh.gov.