Rental Rehabilitation Loan Program
Through the federal Community Development Block Grant program, the City of Eugene offers low interest loans to repair eligible rental properties. Applications for the Rental Rehabilitation Loan Program are being accepted based on funding availability and staffing.
- Housing must be within the Eugene city limits
- Applicant must have an ownership interest in the property
- Property taxes paid current
- Rents are affordable and likely to remain affordable to low-income tenants. Priority is given to properties with multiple rental units
- The replacement of at least one major component (HVAC, Electrical, Plumbing or Roof) is required for program eligibility
- At least 70% of the tenants must meet low-income guidelines.
Eligible Types of Repairs
- Repair roof and gutters; Dry rot and structural repairs
- Weatherization, energy efficiency upgrades (insulation, windows, doors)
- Accessibility improvements
- Electrical and plumbing upgrades; Replace heating systems
- Interior and exterior painting; Lead-based paint abatement
Flexible Project Terms
- Up to $25,000 available per unit (for example, a 10-unit property may qualify for up to $250,000)
- Flexible terms and interest rates (4% and below)
- 10-20-year amortization
- Loan-to-value ratio, up to 90% of property value
- Project must comply with HUD’s Lead-Based Paint rule and Uniform Relocation Act (URA)
Other criteria may apply, based on funding sources.
Rental Rehabilitation Loan Project Highlights
Ross Lane Apartments
In FY 2023, St. Vincent de Paul received a rehabilitation loan for work to help preserve 36 affordable units at Ross Lane Apartments. The project included a new roof and site work (hazardous tree removal, sidewalk replacements, new ADA-compliant curb ramps, and courtyard replacements) throughout the property to improve accessibility access. The apartments are affordable units of various sizes to families, seniors, and persons with disabilities at or below 50% of area median income. Some of the units are set aside families coming out of homelessness (known as transitional housing).
The second of two phases will be done in FY 2024 and includes replacing facia, gutters, trash enclosures, and downspouts, as well as new exterior paint and landscaping.
Prairie View Apartments
In FY 2022, Cornerstone Community Housing completed exterior improvements at Prairie View Apartments, which provides 63 affordable units of various sizes to families, seniors, and disabled persons at or below 60% of area median income, plus one on site manager unit.
Ya Po Ah Terrace
Evergreen Union Retirement Apartments received a rehabilitation loan for 221 units, plus an on-site manage unit, located downtown. These apartments are dedicated for people aged 62 years and older. Residents pay 30% of their income. Federal rent subsidies for 210 units are dedicated to low‐ and very low‐ income seniors who earn up to 50% of area median income. Rehabilitation Loan funds were used to provide gap financing for the substantial rehabilitation project. The preservation was only possible with a combination of federal, state, and local resources.