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Rental Restoration Loans | Lakewood City Of - Department Of Planning And Development

12650 Detroit Ave., Lakewood City Hall, Lakewood, OH 44107

Eligibility

Open to owners of tental properties of one or more units in Lakewood where improvements or repairs need to be made. The gross household incomes of 50% or more of the tenants must meet certain income requirements.

Required documents

Agency will advise.

Hours

M-F: 8:00am-5:00pm.
(216) 529-4663

Voice - voice | (529-HOME)

https://www.lakewoodoh.gov/planning-and-development
[email protected]

Application process

Call M-F: 8:00am-5:00pm for application information.

Fees

There is a mandatory whole house inspection fee, refundable when the project is completed.

Service area

Lakewood, Ohio

Description

Provides 0% interest loans (with partial loan forgiveness) to improve the value of Lakewood rental properties or to add or to improve wheelchair accessibility in the home (such as install a ramp or add an ADA bathroom). Loans can be used for any potential housing safety violations or general property improvements. After receiving funding, landlord must agree to a 5 year commitment to provide affordable housing. The maximum loan is $14,000 per unit.

Data provided by

211 Cleveland

Providing organization

Lakewood City Of - Department Of Planning And Development

Coordinates activities designed to retain existing businesses and attract new businesses to the city.