On Friday, March 10, 2017, the City of Portland released a Supplemental HOME Funds Application. These funds are specifically targeting projects that can use the funds in the near future. Both large and small rental property owners should consider applying for funding rehabilitation projects. The allocation and use of funds will come with certain income and rent restrictions for tenants. For Buildings with four or fewer units, all units must be occupied by tenants at or below 60% of the area median income. Rents may not exceed the “High” HOME Rent Limits. Buildings with five or more units, 80% of the units must be occupied by tenants at or below 60% of the median income. Rents in those units cannot exceed “High” HOME Rent Limits. The remaining 20% of the units must be occupied by tenants at or below 50% of the median income. Rents in those units cannot exceed “Low” HOME Rent Limits. For additional details about income and rent limits please see Exhibit 2 in the Application.
Successful applicants may also be eligible to utilize additional funding through Portland's Lead Safe Housing program as applicable. The HOME Funds application can be accessed through the City’s website by going to the Housing & Community Development Division page under Housing and then Loan Programs or by following this link.
Due to the limited amount of resources available applicants are encouraged to apply early and decisions will be made on a rolling basis. The final deadline for applications is May 31, 2017.
Please send all applications to the attention of Mary Davis, Division Director, Housing & Community Development Division, Room 312, 389 Congress Street, Portland, Maine, 04101 or via email at email@example.com.