As funding permits, the City of Palm Bay has strategies that provide assistance to residents who own their homes but are in need of assistance. These strategies include:

Owner-Occupied Housing Rehabilitation

Owner-occupied homes located within the City of Palm Bay may be eligible for rehabilitation assistance $75,000 to assist with needed repairs.

Criteria for eligibility includes:

• Owner must have owned the home for at least one year prior to requesting assistance.
• All property taxes and mortgage payments must be current.
• The property must be free from liens, excluding mortgage liens.
• Housing income may not exceed 80% of Area Median Income as defined by Florida Housing Finance Corporation, annually.
• Must have Homeowners insurance for the life of the lien term.

Assistance is in the form of a mortgage loan at zero percent (0%) interest rate, for a term of ten (10) years. Loan and lien will be forgiven at the end of the ten-year term.

Emergency Repair

SHIP funds are used to aid owner-occupied homeowners with repairs that alleviate emergency conditions that represent an immediate threat to health and safety.

As funding permits, the City of Palm Bay has a strategy to provide assistance to households who are looking to purchase their own home but are in need of assistance.

Purchase Assistance

This Strategy awards loans to assist home-buyers with the purchase of the home by providing down payment and /or closing cost assistance to ensure affordable first mortgage loan payments.
Criteria for eligibility includes:

• Applicant must not have owned a home within the previous 3 years
• Housing income may not exceed 80% of Area Median Income as defined by Florida Housing Finance Corporation, annually
• Applicant (and co-applicant) must attend a local home-buyer training and counseling class
• Applicant must meet credit evaluation criteria required by the first mortgage lender
• Applicant must provide a buyer contribution of $1,000.00

Assistance is in the form of a mortgage loan at zero percent (0%) interest rate, for a term of ten (10) years. Loan and lien will be forgiven at the end of the ten-year term.

For more information, please contact Community Housing Initiative (CHI) at 321-253-0053.

The Community Development Block Grant (CDBG) is an entitlement grant awarded to the City of Palm Bay through the U.S. Department of Housing and Urban Development (HUD) that is based upon need factors including population, income, unemployment level and housing conditions.

The CDBG program’s primary objective is the development of viable urban communities by providing decent housing, a suitable living environment, and expanding economic opportunities principally for persons of Low and Moderate income.

CDBG funds are used for a wide range of housing and community development activities directed toward neighborhood revitalization, economic development and improved community facilities, infrastructure and services.

Activities should benefit low- and moderate-income persons or aid in the prevention or elimination of slum or blight.

Use of the CDBG funds is guided by the City’s Five-Year Consolidated Plan. The Consolidated Plan establishes Palm Bay’s five-year strategy for investment of its CDBG funds and other financial resources linked to activities directed at the City’s community development, housing and homeless service needs.

For more information, please visit U.S. Department of Housing and Urban Development.

Locally, the City of Palm Bay uses its CDBG funding for the following types of programs and activities:

• Affordable Housing – Rental & Homeownership.
• Infrastructure – Public infrastructure and facility improvements.
• Public Services – Aid to agencies serving the City’s low- and moderate-income households.

FY2023-2024 Annual Action Plan

Home Investment Partnerships (HOME) Program

In partnership with the Brevard County Housing & Human Services Department (Lead Entity) and the cities of Titusville, Cocoa, Melbourne and Palm Bay, the Brevard County HOME Consortium receives U.S. Department of Housing and Urban Development formula grant funding that, in partnership with local non-profit groups, funds a wide range of activities that include: building; buying; and/or rehabilitating affordable housing for rent or home-ownership for low and moderate income households.

For more information, please visit U.S. Department of Housing and Urban Development website.

Florida Housing Finance Corporation has awarded the City of Palm Bay funds to be utilized to implement the State Housing Initiatives Partnership (SHIP) strategies within the Local Housing Assistance Plan. The SHIP program is created for the purpose of providing funds to expand the production of and preserve affordable housing in Palm Bay.

Strategy #1 Purchase Assistance with Rehabilitation -Mitigation

Strategy #2 Owner-Occupied Housing Rehabilitation

Strategy #3 Demolition/Reconstruction

Strategy #4 Emergency Assistance

Strategy #6 Disaster Assistance

Strategy #7 Rental development

The City will reserve 20% for Special Needs Households. 10% shall be used to administer the program. Strategy 6 will be funded provided there is a declared disaster.

Eligible single-family, owner-occupied households must qualify under specifically mandated income limits adjusted to family size as established by the Florida Housing Finance Agency for the City of Palm Bay and in accordance with the specific guidelines created for each strategy.

Our Housing rehab waitlist is now open.  Please click this link to apply. SHIP Prequalification Application

For more information on the SHIP waitlist send an email to; SHIPwaitlist@palmbayflorida.org

The Purchase Assistance with Rehabilitation Program and wait list is administered by Community Housing Initiatives, the agency can be contacted at 321-253-0053. 

The State Housing Initiatives Partnership (SHIP) Program provides funds to local governments as an incentive to create partnerships that produce and preserve affordable home-ownership and rental housing.

The Program was designed to provide Very Low, Low, and Moderate-Income households with assistance to purchase a home; repair a home; and many other types of housing assistance.

For more information, please visit Florida Housing Finance Corporation.