Housing Improvement Area
- Housing Improvement Area application
- Housing Improvement Area PowerPoint presentation from the March 17, 2015 informational meeting
Informational Video on Housing Improvement Areas
The City Council has approved the use of the Housing Improvement Areas as a financial tool for improvements in condominiums and townhomes. HIA’s are City-funded loans that enable condo and townhome associations to complete needed improvements to common areas of their development that they are otherwise unable to finance. To make an application, please see the above link for information and a video presentation on HIA's. Funding for HIA loans is limited and will be awarded on a competitive basis.
Note that HIA funds only common area improvements that the association cannot otherwise finance through any association fund balance, commercial loans or individual private owner loans. The improvements that are allowed under this law include improvements to the common elements in a condominium complex or townhome development. Examples include roofing, siding, landscaping, roadways, parking lots, water lines, painting, and decks.
HIA provide benefits to homeowners that include:
- Initiated by the association
- Improves property appearance and home values
- Provides cost effective method to finance
For updates on the Housing Improvement Area Program, sign up for the E-Subscribe on the right column of this page.