September 6, 2007
Newspaper scan of article regarding rental housing grants.
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Owners and builders of small-scale rental property may qualify for money designated to help get more affordable rental housing on the market. The Mississippi Development Authority will hold workshops explaining the program to landlords next week in Hancock, Harrison, Jackson and Pearl River counties.
‘We are trying to get that small-rental stock back up as quickly as possible,’ said MDA spokeswoman Donna Sanford.
Small-landlord grants will be given in the form of forgivable loans of up to $30,000 per unit, said Sanford. Owners must agree to rent the units at affordable rates for five years. Incentives of up to $10,000 will also be offered for getting small-rental stock back up quickly.
The $262.5 million Small Rental Property Assistance Program is for owners of properties containing one to four rental units. Up to 25 properties, for a total of up to 100 units per owner, are eligible for the program.
MDA will begin accepting applications for Round 1 of the program Monday with a submission deadline of Oct. 26. Allocations of $160 million will be made in the first round with $20 million set aside for nonprofit entities.
Four types of assistance are allocated $40 million each – rental subsidy assistance, reimbursement for repair or reconstruction expenses for Katrina-damaged property, reconstruction or conversion of existing property into rental, and new construction.
Details: 1-866-369-6302 or download guidelines and applications at mississippi.org/smallrental.
Application locations
Owners who cannot attend scheduled workshops may visit the following locations for help with Small Rental Assistance Program applications:
Hancock County: Government Complex, 3068 Longfellow Drive, Trailer 6A, Bay St. Louis, 8 a.m.-6 p.m. Monday-Thursday, 8 a.m.-2 p.m. Friday.
Harrison County: Gulfport Prime Outlets Mall, 10000 Factory Shops Blvd., Suite 110, Gulfport, 10 a.m.-6 p.m. Monday-Friday.
Jackson County: Singing River Mall, 2800 U.S. 90, Suite 1146, Gautier, 10 a.m.-6 p.m. Monday-Friday.
To find out more
MDA will hold workshops next week explaining the Small Rental Assistance Program from 6 to 8 p.m. on the following days:
Monday, Our Lady of the Gulf Community Center, 228 S. Beach Blvd., Bay St. Louis.
Tuesday, Mississippi Gulf Coast Community College Fine Arts Auditorium, 2300 U.S. 90, Gautier.
Wednesday, Donal Snyder Community Center, 2520 Pass Road, Biloxi.
Thursday, Sept. 13, Picayune High School auditorium, 706 Goodyear Blvd., Picayune.
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