3.

Landlord Renovation Program

Using federal Community Development Block Grant (CDBG) funds, this program assists private
landlords in the renovation of vacant, substandard rental units.
Available Funding: Approximately $400,000
Landlords can receive a grant to cover 50% of renovation costs, ranging from
Minimum/Maximum $12,000 to $17,000, based on the number of bedrooms as follows:
Total Funding Ɣ 1 – bedroom $12,000
Request: Ɣ 2 – bedroom $15,000
Ɣ 3 – bedroom $17,000
Funding Format: Funding is made available in the form of grants/forgivable loans.
Eligible Use(s): Renovation of 1 and 2-unit rental housing.
Eligible (funded) Funds are available to assist with hard costs associated with the renovation of
costs: the rental units.
Minimum/ Maximum
# of Units (per One (1) unit minimum; maximum of two (2) units per application. If the
landlord applies with a tri-plex or a quadplex, these are allowed (all three/four
project)
units are eligible for the per-unit reimbursement).
Project Location: All units must be located within the Chattanooga city limits
Applications are accepted from eligible entities on a continuous basis. Awards
Application Process: are made on a first come first served basis until all available funding has been
allocated.
Eligible Applicants: For-profit landlords
Eligible Occupants of All assisted projects must be available to households with incomes that do not
Units: exceed 60% AMI
Minimum Period of
7 years
Affordability:
Application and http://www.chattanooga.gov/economic-community-development/community-
Guidelines development/home-application

Future Funding: Annual federal CDBG allocations average $1.6 million