The Rehabilitation Program Assisting Investment Rentals (RePAIR) provides technical and financial assistance to Burlington's landlords. RePAIR will help landlords:
- Assess project feasibility
- Develop a rehabilitation scope of work
- Obtain answers to apartment rehabilitation questions from city departments including Planning & Zoning, Inspection Services, and Minimum Housing
- Coordinate free technical information, grants and / or low interest loans for:
- Weatherization Improvements
- Heating System Upgrades
- Lead Paint Hazard reductions
- Finance rehabilitation projects:
- 7.5%, 10 years, fixed rate
- Funding typically provided as a second mortgage
- Total debt encumbering property cannot exceed 85% loan to value
The Red Tape:
- Buildings must be located in Burlington
- At least 51% of the building must be residential. RePAIR funds are designated for housing rehabilitation projects.
- At least 51% of tenants must have incomes less than 80% of median income
- Rents are capped to Burlington Housing Authority (BHA) Payment Standards during rehabilitation and for 1 year following project completion
- Completed RePAIR projects must meet Burlington's Minimum Housing Ordinance and Time of Sale Energy Audit Standard.
For more information, contact:
Todd Rawlings, Housing Program Manager
802-652-4209
trawlings@burlingtonvt.gov
