(Source Matthew Watkins The Eagle, Bryan, Texas) -- The College Station City Council approved a new program Thursday that will use federal funds to provide incentives to landlords to rehabilitate housing for low-income residents.
The Rental Rehabilitation Program will set aside $50,000 in grants from the HOME program and the U.S. Department of Housing and Urban Development to provide interest-free loans to rental property owners hoping to improve their apartments or rental homes.
The city would then forgive up to 25 percent of the loan if the landlord brings the property up to HUD standards and improves quality and energy efficiency.
If successful, the city will expand the program in future years.
City staff said the program is a response to the unique needs of College Station. Among the households in College Station with an income under $35,000, 91 percent live in rental properties. But almost all of the city’s affordable housing money goes toward owner-occupied housing.
But as new apartment complexes and duplexes continue to sprout in the city, much of the old housing stock has deteriorated.
“The need for this in our community is greater than most of us realize,” Mayor Nancy Berry said.
The program will have restrictions. Any recipient must be current on his property taxes, have no outstanding code violations and, if the property is a house, be current with the city’s Rental Registration Program.
The housing must also be vacant or its owners must be willing to offer a relocation plan for tenants whose homes would be renovated.
Once the work is completed, the owners would be required to offer a certain percentage of their units to low- or moderate-income renters. For a family of four, the maximum household income would be just under $34,912.
The council voted six to one to approve the program. Councilman Jess Fields was the lone dissenting vote.
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Source Matthew Watkins The Eagle, Bryan, Texas
