Rental Housing Rehabilitation Loans
Single and duplex housing will be considered for the Program with a loan maximum of $17,500 per unit. The loan amount will be matched by an equal contribution by Owner. The Owner agrees to rent to tenants who earn less than 120 percent of the median income for Monterey County.
Events Causing Loan to Become Due and Payable
- the Property Owner sells the property,
- the Property Owner transfers the legal title of the property to another title holder,
- the Property Owner fails to make the required insurance premium payments in a timely fashion,
- the Property Owner fails to comply with the rent monitoring requirements within a reasonable time frame.
APPLICATIONS ARE NOT BEING ACCEPTED AT THIS TIME, DUE
TO THE STATE'S DECISION TO ELIMINATE THE SOLEDAD REDEVELOPMENT AGENCY
WHICH PROVIDED STAFF SUPPORT AND RESOURCES FOR THIS PROGRAM.
|For more information related to Rental Housing Rehabilitation Loans,
contact the Housing Division at (831) 223-5063.