Apartment Remodeling Loan Program (ARP) - Applications are being accepted now for 2019 funds
Fifteen-year, forgivable, no payments, no-interest loans of up to $50,000 per building.
Affordable Apartment Improvement Grants (AAIG)
Grants of up to $5000/unit for buildings with between 4 - 17 units and with rents at or below 50% of the Area Median Income. Improvements to units of long-term tenants eligible.
If you are interested in an AAIG grant, email Julie Urban, Housing Manager, email@example.com
The City requires new owners of apartment buildings to send notice within 30 days of purchase to tenants residing in affordable units and provide a three-month protection period. During the tenant protection period, the new owner cannot raise rents, non-renew tenants without cause, or re-screen existing tenants. Click here for a summary and here for a complete copy of the ordinance.
Richfield Apartment Managers' Association (RAMA)