Huntsville makes $4M available for multifamily rental rehabilitation program
Published on November 1, 2023
Owners of low-income, multifamily rental housing in Huntsville who want to rehabilitate their properties may qualify for funds from the Emergency Rental Assistance (ERA2) Program.
The City of Huntsville’s Community Development Department is accepting applications from those who meet program requirements. The City has $4 million to distribute to eligible property owners.
The deadline to apply is 5 p.m. Monday, Nov. 20.
The City of Huntsville previously worked with Madison County and the State of Alabama to distribute Emergency Rental Assistance funds in the wake of the COVID-19 pandemic. The program provided rent payments to landlords and property owners on behalf of tenants who suffered financial hardships because of the pandemic.
Scott Erwin, Community Development Manager, said affordable housing assistance is at the heart of the ERA2 program, and the City has earmarked the funds specifically for those who want to fix up low-income, multifamily housing.
“Anyone who owns property knows the high costs associated with the maintenance and upkeep,” he said. “This program is perfect for property owners whose investments need work, whether it’s a new coat of paint, patching walls or replacing windows. Being able to make those repairs not only benefits the owners, but it makes a huge difference to tenants who want to feel good about their living conditions.”
To be considered, the multifamily properties must service low-income families who are at or below 50% of the area median income. Projects must also conform to program requirements of the Low-Income Housing Tax Credit (LIHTC) Program, which uses tax credits to encourage private developers to build affordable housing.
Eligible property owners may apply for up to $4 million and must receive a grade of 80 or higher to be considered and include the required documents. Graded portions of the application include a project narrative, capacity and performance, budgeting and financial projections, project readiness and compliance and community outreach.
Click here to learn more about the program and complete an application.