The City of Chattanooga Department of Economic and Community Development has funding available to assist private landlords in renovating their rental units. The program awards grants to property owners who substantially renovate their rental units and agree to keep them affordable for a five year period.
Following are some of the program details and requirements: rental units MUST BE VACANT at the time of application and renovation; rental units must require significant renovation work; the grant covers 50 percent of renovation costs, up to a maximum of $12,000 for a three-bedroom unit, $10,000 for a two-bedroom unit, and $8,000 for a one-bedroom unit; there is a limit of two rental units per applicant; and all building codes will apply and all building permits must be secured.
Applications will be chosen on a competitive basis.
Applications are available now on the City of Chattanooga website under Economic and Community Development/Public Notices. Applications may also be obtained in the reception area of the Office of Economic and Community Development, located on the second floor of City Hall.
Once applications are completed, they may be hand delivered or mailed to: Economic and Community Development, 101 E. 11th Street, City Hall, Suite 200, Chattanooga, TN 37402. Applications are due by 4 p.m. on April 30, 2014. If you have any questions, call Doug Smith at (423) 643-7336.