City of Largo, Florida
If you own rental property which is in need of repair, Largo can provide you with financing assistance through the Rental Rehabilitation Program. The program provides low-interest loans for owners of income-eligible rental property. The City of Largo will determine the approximate costs of the improvements, help you select a contractor and supervise the work in progress. You should contact the Community Development Department in advance to determine the maximum amount you may spend on rehabilitation.
Interest rate at three (3) points below Prime Rate (minimum 4% interest rate)
- Maximum repayment period of 15 years; and
- Total debt on property may not exceed 95% of the property's value after rehabilitation.
Financing may be used for the following types of projects:
- New roofing;
- Heating & air;
- Energy conservation improvements; or
- Handicap modifications or accessibility.
In order to participate in the "Rental Rehabilitation" program you must meet certain eligibility requirements.
Current income limits
Gross Annual Income
80% of Median Income
- The gross (combined) family income of tenants must not exceed 80% of the Federal median household income (listed above);
- Tenant income must be certified prior to loan approval;
- You must have sufficient equity to secure the loan;
- The property must be located within the City limits of Largo; and
- The property must not be located within a flood plain.
Complete the "Rental Rehabilitation" application, print and sign,thenmail it to:
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201 Highland Ave
Largo, FL 33779
- Business: (727) 586-7489 x 7314
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