Homeownership Preservation Program Applications Available April 1

Published on March 31, 2021

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(Miami, FL March 31, 2021) - The City of Miami will open the application period for the new Miami Forever Bond-funded Homeownership Preservation Program (HPP) on Thursday, April 1, 9 a.m. This program offers assistance of up to $70,000, to income-eligible homeowners within City of Miami limits (folios starting with 01) seeking to repair the exterior envelope of their homestead property to better withstand storms while maximizing energy efficiency.

The assistance can be used to repair or replace the roof, windows and/or doors (exterior facing) of eligible residences, which include single-family homes, townhomes, twin homes and condominiums that are owner-occupied (homestead exemption). The property’s most recent assessed market value cannot exceed $400,000, as determined by the Office of the Miami-Dade County Property Appraiser, and the household must qualify as 140% Average Median Income (AMI) or below based on household size and income standards, provided annually by the U.S. Department of Housing and Urban Development (HUD).

Starting April 1st, 9 a.m., applications will be available for downloading online at www.miamigov.com/HPP-Program, or paper copies can be picked up at one of the City’s Neighborhood Service Centers. Please call 311 for details on those locations. Interested homeowners must complete and mail the application form via U.S. mail to the P.O. Box noted on the form, postmarked no later than Friday, April 30, the date when the application period will close. All submissions will be screened for general eligibility and included in a computerized lottery to be held at a later date, that will draw a waitlist to set the numerical order in which applicants will be processed, based on funding availability.

Once called from the waitlist, homeowners will be required to provide supporting documentation, home inspection(s) will take place to assess and confirm the property’s needs, and a contractor will be selected via a Job Order Contract (JOC) firm to complete the work. The program assistance will be provided as a forgivable loan should the property owner continue to own and reside in the rehabilitated home for ten years after the work is completed. Should the homeowner sell the repaired home prior to the ten-year loan period, then the principal amount, plus three percent accrued interest, must be repaid to the City at the time of the sale or transfer of the property.

Applying for the HPP does not guarantee assistance. For general information, visit www.miamigov.com/HPP-Program or call 305-416-2188.

 

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