The City of Milwaukee’s Rental Rehabilitation Program, which is administered by the NIDC (Neighborhood Improvement Development Corporation), has expanded to investor owners who are purchasing City-owned tax-foreclosed properties in the City’s Community Development Block Grant (CDBG) area.
The program provides forgivable loans of up to $15,000 per unit which must be matched on at least a dollar-for-dollar basis by participating landlords, who must agree to bring the property up to code, address any lead hazards at the property, and rent to income eligible tenants for a five year period.
During 2013, the Rental Rehabilitation program had previously been limited to properties within the City’s Target Investment Neighborhoods (TINs), but was able to expand to include tax foreclosed properties utilizing some funds which were allocated by the Milwaukee Common Council in July of 2013.
Click on the link below for a brief information sheet about the program, and more information can be found at city.milwaukee.gov/NIDC.
If you have any questions about this program, please email or call 414-286-5608.