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MIAMI RECOVERS GUIDELINES
The Miami Recovers program was created to assist City of Miami residents whose
homes were damaged by the Hurricanes. Financial assistance is provided to aid those
residents whose homes were located within the City of Miami limits and were renting
units in buildings deemed as "condemned buildings," or to homeowners whose homes
suffered damages due to the hurricane. The assistance will be for qualifying City of
Miami residents on a first come, first serve basis, as assistance is based on funding
availability. Assistance is extended one time per address.
DEFINITIONS
HomeOwner — The individual or group holding valid title to the property.
Renter — The individual or family that has a valid lease for a unit in a rental property.
Forgivable Loan — Funds provided to the owner in the form of a loan for the purpose of
repairing damages incurred on the property.
Rent Regulatory Agreement — A written and recorded document limiting the borrower's
rate of return on investment and establishing rent levels by unit size and renter income.
Multifamily Dwelling — A residential property containing five (5) or more dwelling units.
PROGRAM DESIGN
ASSISTANCE FOR RENTERS
City of Miami residents who were renting units in buildings deemed as "condemned
buildings," after suffering damages from a Hurricane are eligible to receive assistance.
Those renters that were displaced by a Hurricane are eligible to receive both security
deposit and relocation assistance. A description of the eligibility requirements and the
types of assistance that is available for renters is listed under program eligibility.
ASSISTANCE FOR HOMEOWNERS
Homeowners, residing in the City of Miami area, whose homes suffered damages from
the Hurricanes, are eligible to receive assistance, in the form of a forgivable loan, after
the affordability period of ten (10) years, to repair the damages. A description of the
eligibility requirements and the type of assistance for which the homeowner would be
eligible to apply is listed under program eligibility.
ASSISTANCE FOR MULTI FAMILY UNIT PROPERTY OWNERS
Multi -family unit property owners who rent to low-income tenants, whose buildings
sustained damage caused by a Hurricane are also eligible to receive assistance. These
property owners, as a result of the low rents charged, were financially challenged to
provide the capital dollars necessary to make the required improvements to their
buildings. The city's assistance to these property owners was conditioned on the fact
that a mortgage would be placed on the property and a rent regulatory agreement
executed. The rent regulatory agreement would restrict the rent amounts, preserving the
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EXHIBIT "A"
unit as an affordable housing unit. A description of the eligibility requirements and the
type of assistance for which the property owner would be eligible to apply is listed under
program eligibility.
PROGRAM ELIGIBILITY (Renters)
Eligibility Requirements: In order to be eligible for this assistance, the applicant must
meet one of the following requirements:
• Renting a unit in a condemned building located within City of Miami limits
• Have a condemnation letter (from the City of Miami Building Department) and a
recent utility bill from the last three months (or other . acceptable proof of
residency) with an address matching the one on the condemnation letter
• Have located a new place to live (can be outside the City of Miami ), have a
signed lease stating the exact amount of the monthly rent due, and a W-9 form
signed by the landlord (the assistance check will be paid directly to the landlord)
Types of Assistance for Renters:
• Security deposit assistance is provided based on the number of bedrooms of the
new place of residence. The chart below outlines the maximum amounts of
assistance provided. If the security deposit is less than the maximum provided,
the lesser amount will be paid out.
# of
bedrooms
of new
home
0
1
2
3
4
Maximum
provided
$682
$775
$929
$1,204
$1,419
• Relocation assistance is also provided to cover moving expenses, based on the
number of rooms of furniture that will be moved from the condemned residence
to the new place of residence. The chart below outlines the maximum amounts
of relocation assistance provided, based on the number of rooms of furniture
being moved (rooms include bedrooms, living room, dining room, kitchen). In all
cases, the relocation assistance check will be paid directly to the applicant
(renter).
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EXHIBIT "A"
# of rooms of
furniture
1
2
3
4
Maximum
provided
$450
$600
$775
$950
* units containing in excess of 4 rooms will be calculated using the same Incremental scale.
PROGRAM ELIGIBILITY (Home Owners)
Owner Eligibility Reauirements: To be eligible for this assistance, the applicant must
provide proof of the following:
• Ownership of the property
• Proof of Insurance (if the property is insured); if property is not insured, owner's
signed affidavit of no insurance
• Property taxes for the unit/property must be paid and current
• Applicant must reside in the property/unit (Homestead Exemption)
• Income must not exceed the 150% of median income (see chart below)
# of persons in
the household
1
2
3
4
150% income
limit
$58,688
$67,031
$75,469
$83,813
* Households in excess of 4 members will be calculated using the same income limit as reflected in the table
Type of Assistance:
• Homeowner's assistance provides the homeowners with financial assistance of
up to $35,000/ unit at 3% non- amortizing loan, forgivable after 10 years. In the
event of sale or transfer of the unit within the affordability period, the loan must
be paid in full.
• Scope of work for homeowner assistance will include any damages caused by
the Hurricane (roof, ceiling, windows, drywall, etc.)
• The loan will be secured by a mortgage to be placed on the property prior to any
work commencing.
• Homeowners that receive insurance payment or FEMA reimbursement for items
covered under Miami Recovers repairs will be required to repay the City of Miami
the portion of the payment that pertains to those items.
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EXHIBIT "A"
* A written document from the insurer stating how much the insurance will cover toward
work and how much of a deductible the homeowner will need to pay is required to be
submitted
** If the applicant's home is insured, insurance coverage must be first utilized towards
the cost of repairs; subsequently, City assistance will be utilized to cover the deductible
or any repairs not covered by the insurance.
PROGRAM ELIGIBILITY (Multi -Family Unit
Eligibility Requirements: To be eligible for this assistance, the applicant must provide
proof of the following:
• Ownership of the property
• Proof of Insurance (if the property is insured) ); if property is not insured, owner's
signed affidavit of no insurance.
• Property taxes for the unit/property must be paid and current
• Occupant residing in unit must be rented to low to moderate income
individual/family (see chart below). Rent rolls must be provided to ensure rent
limits
• Assessed value of the unit/ property will not exceed $300,000 per unit
# of persons in
the household
1
2
3
4
150% income
limit
$58,688
$67,031
$76,469
$83,813
* Households in excess of 4 members will be calculated using the same income limit as reflected in the table
Type of Assistance:
• Multi Family Unit Property Owner's assistance provides the property owner with
financial assistance of up to $35,000/ unit at 3% non- amortizing loan, forgivable
after 10 years. In the event of sale or transfer of the building within the
affordability period, the loan must be paid in full. Or if failure to comply with rent
regulatory agreement, the loan must be paid in full.
• Scope of work for this assistance will include any damages caused by the
Hurricane (roof, ceiling, windows, drywall, etc.)
• The loan will be secured by a mortgage to be placed on the property prior to any
work commencing. A rent regulatory agreement will also be recorded. The
maximum allowable rate of return on the investment will be twenty (20%)
percent.
• Property owners that receive insurance payment or FEMA reimbursement for
items covered under Miami Recovers repairs will be required to repay the City of
Miami the portion of the payment that pertains to those items.
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EXHIBIT "A"
* A written document from the insurer stating how much the insurance will cover toward
work and how much of a deductible the property owner! homeowner will need to pay is
required to be submitted
** If the applicant's property is insured, insurance coverage must be first utilized towards
the cost of repairs; subsequently, City assistance will be utilized to cover the deductible.
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