The City of Tampa has recently announced a new Rental Rehab Program to help affordable multifamily properties, including naturally occurring affordable properties, that have been financially impacted by the COVID-19 emergency. The program is available to properties in Tampa City limits and provides loans per unit to address deferred maintenance. The program offers loans to qualifying multifamily properties on a sliding scale depending on how much the property matches. Properties will have to demonstrate a 25% loss of rental income for at least one month between February and August 2020 in order to qualify for the program. After 10 years, if the unit(s) remains affordable and does not fall into disrepair, the loan may be forgiven. Applications for the program must be submitted by December 30, 2020.