The City of Pine Island has funding available for owner occupied rehab. Eligible households must:
- Live within the city limits of Pine Island.
- Property is suitable for rehab.
- Homeowner’s property taxes and insurance are current.
- Property is a permanent structure.
- Homeowner does not have any outstanding judgments.
- Homeowner’s income must be at or below established guidelines
| Income Guidelines (2026) | |||
| Family Size | 30% AMI | 50% AMI | 80% AMI |
| 1 | $24,000 | $39,950 | $63,900 |
| 2 | $27,400 | $45,650 | $73,050 |
| 3 | $30,850 | $51,350 | $82,100 |
| 4 | $34,250 | $57,050 | $91,300 |
| 5 | $38,680 | $61,650 | $98,650 |
| 6 | $44,360 | $66,200 | $105,950 |
| 7 | $50,040 | $70,750 | $113,250 |
| 8 | $55,720 | $75,350 | $120,550 |
The financial assistance will be in the form of a deferred loan. The amount of the deferred loan will vary on a case-by-case basis. The deferred loans are secured with a Repayment Agreement. If the property is sold, title is transferred or is no longer the primary residence of the participant:
- Within the first 6 yrs., the full amount must be repaid to the HRA
- The amount of repayment is reduced 20% for each year until the end of the 10th year.
- At the end of the 10th year, the loan is forgiven and becomes a grant.
| Financial Assistance | |||
| Income based on AMI | % Property Owner Match | % Deferred Loan | Max. Deferred Loan Amount |
| 0-30% AMI | 0% | 100% | $25,000 |
| 31-50% AMI | 4% | 96% | $24,000 |
| 51-80% AMI | 10% | 90% | $22,500 |
To apply for the Pine Island Housing Rehab Program, please click on the link in the sidebar.
