Purchasing a home with modern renovations can be challenging. In some neighborhoods where home values are less than the cost of required rehab work, it can also be difficult to finance repairs. The Racine Rehabbed and Ready program helps to offset that financial gap.
Property Eligibility (all must be met)
- Vacant for at least 90 days.
- Verified by City/CDA staff through utility usage, foreclosure information, vacant property registry, building records, USPS mail service, and other records available to City/CDA staff ascertain property vacancy.
- Properties with raze (demolition) orders, or otherwise condemned by City Officials, shall not be eligible for the program.
- Property shall be converted to a single unit dwelling OR if an existing multi-unit dwelling, may be converted to a two-unit dwelling. No additional dwelling units beyond two are permitted under this program.
- Properties currently habitable as determined by the Department of City Development, Health Department, or other City Official, are not eligible for the program.
Applicant Eligibility Requirements (all must be met)
- Applicants personally, or through corporate entity, shall not owe taxes, fines, fees, or other liabilities outstanding to the City of Racine at the time of application.
- No applicant, partnership, corporation, or combination thereof, shall be allowed to have more than two properties active under this program at any one time.
- No applicant, partnership, corporation, or combination thereof, shall renovate more than five properties in total under this program.
- No property shall be eligible for funding more than one time.
- Must acquire legal title (ownership) of the property subject to the program within six (6) months of application.
- Applicants who own property with outstanding health, property maintenance, zoning, or building code violations or any orders from the City that are not actively being abated, are not eligible for this program.
- Applicants who have been convicted of violating any order of the City within the past year, are not eligible for this program.
- Applicants have owned property in the City that, at any time within the past 5 years, was acquired by means of property tax foreclosure, are not eligible for the program.
- This applies to any ownership group or LLC of which any prospective buyer has been a member.
Process to Apply
- Read and understand the program guidelines in the application (available below).
- Consideration of eligible application by the Community Development Authority (CDA).
- Demonstrate legal title (ownership) to the property (within 6 months of CDA approval).
- CDA issues a notice to proceed. Applicant will have 1 year to complete the work.
- Building permits applied for and issued.
- Inspections by Building Division staff occur and final inspections pass.
• House is determined habitable by all City Departments. - Deed restriction requiring occupancy by owner-occupants only is recorded with the County Register of deeds.
- City/CDA staff issue payment to applicant for $25,000.00