Section 4 – Toolbox
Eligibility • Households must be of low or moderate income (earnings of up to $40,000 for a family of four), and first time homebuyers. • Properties must be 1 or 2 bedroom homes. Homebuyers must complete a home-buying education course. How is this Tool Best Used? Neighborhoods experiencing problems of physical deterioration, crime, building code violations, a poor sense of community and other issues associated with neighborhood instability may find this tool useful. Contact City of Grand Rapids Housing and Community Development Offices 300 Monroe NW, Grand Rapids, MI 49503 Phone: 616/456-3445
Grand Rapids Housing Rehabilitation Tool Description • THE HOUSING REHABILITATION PROGRAM provides financial assistance for immediate health/safety concerns, exterior code violations, treatment of hazardous materials and other repairs to low and moderate income owners of homes in Specific Target Areas (see map in Appendix). •
THE ELDERLY/DISABLED HOMEOWNER REHABILITATION PROGRAM provides financial assistance for housing rehabilitation to qualifying low and moderate income elderly or disabled households in the General Target Area (see map in Appendix).
THE RENTAL REHABILITATION PROGRAM provides financial assistance for the rehabilitation of rental properties occupied or to be occupied by low income tenants.
THE NEIGHBORHOOD REHABILITATION PROGRAM provides one-time seed funding and capitalization of rehabilitation services to compliment ongoing City Code Enforcement Team activities. Applications for the programs are to be made through the City Neighborhood Improvement Department.
How are these Tools Best Used? These programs are of particular use in low income neighborhoods experiencing disinvestment and physical decay. Contact City of Grand Rapids Neighborhood Improvement Department, Housing Rehabilitation Division 1120 Monroe NW, Grand Rapids, MI 49503 Phone: 616/456-3030
Michigan Historic Preservation Tax Credits Tool Description This program provides financial incentives to commercial and residential properties to rehabilitate historic property. The program covers tax years 1999, 2000, 2001 & 2002. Credit may be up to 25% of the taxpayers’ qualified rehabilitation expenditures, and applies to the Michigan Single Business Tax and Michigan Income Tax.