Affordable Rental Construction and Rehabilitation Funding
Monroe County > SHIP Program
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Description
Monroe County's SHIP Program announces $255,000 in funding for affordable rental construction and/or rehabilitation for the 2024-2025 fiscal year. The program serves households up to 140% AMI throughout Monroe County, including incorporated areas. Maximum award per unit is $40,000, with a 15-year loan term. Not-for-profit entities receive full loan forgiveness at maturity; for-profit entities must repay the full amount. Funding priority is: first, preservation of Assisted Housing Units; second, rehabilitation of existing rental units; third, creation of new rental units. Applications are ranked by priority and scoring criteria including affordability period, tenant income levels, and lowest SHIP per unit cost.
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Documents
Documents available via:
- Website - Bonfire
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