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Acquisition/Rehab Revolving Fund: Guidelines
Activities must meet Objective K of the Program Framework.
Funds are available anytime throughout the year, contingent upon availability of funds. Applications are due to the CDBG Office by 4:30pm on the 15th of the month and will be reviewed by the CDBG Commission on the first Thursday of the following month. The City Council shall determine final approval for all recommended activities over $15,000; the Mayor shall determine final approval for all recommended activities $15,000 or less.
Applications should be submitted four (4) months prior to the planned acquisition or rehabilitation of the property.
Funds must be committed within twelve (12) months of Council approval to a specific written agreement for acquisition or rehab.
Applications are available from the CDBG Office. The application should include a minimum of two (2) estimates upon which rehabilitation costs are based, and a copy of the plans and specifications for the work. Estimates should be based upon Davis-Bacon wage rates, when applicable.
welcome your proposals!
Please call to discuss the details of your proposal with one of our Grants Administrators and to request an application.