Rental Rehabilitation Loan Program


from the City of Eugene Website

Eugene residents identify housing affordability as one of the City’s most important problems. Access to safe, high quality, affordable housing creates stability and opportunity for families and individuals who have difficulty affording housing.
Eugene’s Community Development Block Grant (CDBG) Housing Rehabilitation Loan Program provides low-interest loans and grants to low- or moderate-income homeowners and rental properties for emergency repairs and accessibility improvements. These funds help ensure safe, accessible, and affordable homes for people with disabilities, low-income families, individuals, youth, seniors, and others with special needs.

Applications for the Rental Rehabilitation Loan Program are being accepted based on funding availability and staffing.

Eligibility

  • Housing must be within the Eugene city limits
  • Applicant must have an ownership interest in the property
  • Property taxes paid current
  • Rents are affordable and likely to remain affordable to low-income tenants Priority is given to properties with multiple rental units
  • The replacement of at least one major component (HVAC, Electrical, Plumbing or roof is required for program eligibility
  • At least 70% of the tenants must meet low-income guidelines, as follows:

Tenant Household income (2015) CDBG projects: 80% of AMI

 Household Size  1 2 3 4 5 6
 Maximum Income $31,000 $35,400  $39,850 $44,250 $47,800 $51,350

Eligible types of Repairs

  • Repair Roof and Gutters
  • Dryrot and Structural Repairs
  • Insulation, Windows and Doors
  • Accessibility Improvements
  • Electrical and Plumbing Upgrades
  • Replace Heating Systems
  • Interior and Exterior Painting
  • Lead Based Paint Abatement

Flexible Project Terms

  • Up to $25,000 available per unit ( for example, a 10-unit property may qualify for up to $250,000)
  • Negotiable below market interest rate, 10-20-year amortization High loan-to-value ratio, all loans may total up to 90% of property value
  • Generally, the City of Eugene will not lend you less than $10,000.00 or more than $25,000.00 per unit.
  • Interest is 4%, fully amortized for 20 years
  • Project must comply with HUD’s Lead Based paint rule and URA (Uniform Relocation Act)

Fair Market Rents (2015)Eugene FMR’s apply except as applicable and noted below.

  • All FMR’s Includes utilities paid by tenant per Utility Allowances schedule in effect
Bedroom  Studio 1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom
Eugene FMR
(CDBG Rental Rehab Programs)
 $493  $617  $829  $1,200  $1,401
Oregon LIHTC
(Tax credit Projects)
 $582  $623  $747  $863  $963
Oregon HERA Rents
(Based on Special Income limits 60%
 $622  $666  $799  $924  $1030

Other eligible FMR’s as may be established by senior financing requirements or determined on a project by project basis by HUD for MF 202 projects or other Low Income projects as applicable and approved by HUD or the applicable agency.

For More Information

Housing Assistance Programs
99 W 10th Ave
Eugene, OR 97401
Ph: 541-682-5446
Fx: 541-682-5572