All residential property owners in the city of Cleveland may utilize a combination of financial products to cover Lead Safe project costs.
Grants are available for up to $12,000 per project or unit, with a maximum of 12 grants per property owner. The amount of grant funding you are eligible to receive is based on the current 120% AMI (Area Median Income) rate. Homeowners with an income below 120% AMI are eligible to receive the maximum amount per project or unit ($12,000), while property owners with an income above 120% AMI can secure up to $4,500 per project or unit. No down payment is required to receive Lead Safe grant funding. Property owners who accept a Lead Safe grant or grants in the amount greater than $2,000 to remediate a given property must agree to cap future rent increases for existing tenants associated with that specific property to no more than three percent (3%) per year for two (2) years.
If total Lead Safe project costs exceed the funding awarded amount, additional funds will need to be provided by the applicant in order to complete the project. Loans are available through CHN Housing Partners for up to $7,500 each and are subject to the standard loan underwriting process, with no limit on the number of loans a property owner may utilize. All loan applicants must contribute a minimum of 10 percent of the total loan amount in cash as a down payment on all Lead Safe projects. Lead Safe Loan Incentives are also available through CHN Housing Partners and can be applied toward the down payment.
In addition, rental property owners may receive incentives of $1,000 per 20-year lead-free exemption or $750 for every Lead Safe Certification (max of 12 properties per zip code or 50 total). These incentives are available through the Lead Safe Resource Center and are for rental property owners who’ve complied with the lead safe certification law and received a certification or 20-year exemption.