Tampa Republic

The City of Tampa marks the first anniversary of its Rental to Homeownership Program, which has provided affordable housing and a path to homeownership for five families. The program is a collaboration with Rebuilding Together Tampa Bay and Solita's House.

The initiative aims to assist families in transitioning from renting to owning homes. Rebuilding Together Tampa Bay built five houses, converting them into rental properties with an emphasis on affordability. Rent is capped at no more than 30% of the family's gross monthly income, ensuring financial feasibility. All participating families earn below 80% of the Area Median Income (AMI), which is approximately $76,400 for a family of four. Three families benefit from Section 8 assistance, while two receive subsidies from Rebuilding Together Tampa Bay.

Mayor Jane Castor stated, "Having a manageable monthly rent payment is the first step towards being able to save for a downpayment or the many other expenses associated with buying your own home." She added that the program allows residents to create action plans and realistic timelines for achieving homeownership goals.

The partnership includes financial support from the City of Tampa, which contributed $200,000 from the American Rescue Plan Act. This funding, along with assistance from Rebuilding Together Tampa Bay, ensures a 20-year affordability period for these homes.

Families also receive comprehensive housing counseling through Solita's House to prepare them for mortgage readiness.

A press conference will be held at 11 a.m. on Friday, December 13, at 8119 N 11th St, Tampa, FL 33604. Media outlets are invited to attend and interview residents involved in the program along with city officials and partners.