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Lakewood Times

Lakewood Times

Lakewood Times

    Rental Restoration Program in Lakewood


    The City of Lakewood has always made sure that the community is healthy, safe, and looking its best. The new project that they are about to dive into proves that the city wants the best for its citizens.

    The launching of the new upcoming project is called the Rental Restoration Program. The benefits of the program are that it allows for landlords of rentals to have a zero percent interest financing rate, along with loan forgiveness. The partial mercy amount is up to $14,000 per unit; this is to allow for updates and improvements.

    There are some requirements in order to qualify for the restoration program. The tenant of the rental must be within low to moderate income. The landlord then must sign an agreement that is five years long; the agreement is determined by the Department of Planning and Development.

    Some of the things that can be repaired under the program are internal, roofs, entrances, etc.

    The Lakewood Department of Planning and Development has many other housing programs in place to help the city.

    Wendy Powers, a previous renter, stated, “I am happy to hear that they have designed another great program in order for improvements to be made. When I was a renter a while ago, the landlord needed to make many upgrades, but did not. If this program would have been in place, maybe he would have been able to do so.”

    To find more information on the new program, head to One Lakewood: 

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