section 108 loans

The Housing and Neighborhood Development Services Division offers several grants and loan programs that benefit very low to moderate-income residents of Palm Bay.

Section 108 Loan Guarantee Program provides front-end financing for large-scale physical development projects in the form of low interest loans. The maximum loan amount cannot exceed five times (approximately $3.5 million).The CDBG allocation.  Section 108 obligations are financed through underwritten public offerings. Financing between public offerings is provided through an interim lending facility established by HUD.

^Top