BUYING A HOME IN THE CRA DISTRICT HAS PERKS!
(Zephyrhills, FL) The city of Zephyrhills offers a ‘Residential Ownership Incentive Grant’ to homebuyers who purchase a home in the Zephyrhills CRA district. This $5,000 grant is for home buyers who purchases a primary residence in the district.
As with any program there are rules, but they aren’t complicated. If you meet the criteria below, submit your application and receive approval before closing, a home buyer can expect to receive the grant funds after closing.
WHAT IS THE CRA?
CRA stands for the ‘Community Redevelopment Agency’. It is part of the City of Zephyrhills municipal government.
WHAT ARE THE CRA BOUNDARIES?
WHAT ARE THE RULES?
Home buyers must meet the following criteria:
a) I am 21 years of age or older.
b) I will hold title to this residence for a minimum of five (5) years.
c) I will reside in the subject residence for a minimum of five (5) years and claim homestead exemption as regulated by the Pasco County Property Appraiser.
d) I understand an encumbrance of $5,000 will be placed on property for five (5) years.
e) I will be disqualified and grant funds revoked if I do not comply with applicable zoning requirements, design standards and/or guidelines.
f) If I fail to obtain homestead exemption, am found to be using the exemption fraudulently, or vacate property, I understand I will be required to repay the entire $5000 grant amount. Should grant amount not be repaid within 15 business days, owner will be considered in default and interest will accrue at 18% per annum.
g) I understand before funding is disbursed I will provide a copy of the property sale documents/closing statement, copy of the Warranty Deed, and copy of Homestead Exemption application from Pasco County Property Appraiser, within 7 days of Real Estate Closing.
h) I understand that I must provide a completed W-9 form and will be responsible for any applicable taxes from grant funding.
i) I understand the CRA Board of Commissioners reserves the right to deny an application at any time without cause.
WHAT IS MY NEXT STEP?
Sunlight Realty helps their client obtain and complete the application process. If you want to start your house search, give Sunlight Realty a call and we can get you moving fast! 813-990-0205.
If you have a property in the CRA district and plan to sell it, please call us first. We have buyers and can make the process super easy.
DIRECT LINK TO THE GRANT APPLICATION:
You can get the official parameters here: https://www.ci.zephyrhills.fl.us/559/Residential-Ownership-Incentive-Applicat Please refer to the CRA for all program details.
DISCLAIMER: The Zephyrhills CRA determines the rules and how these grants are awarded. The home buyer is responsible to meet all program requirements and deadlines. Sunlight Realty can assist, but ultimately it’s the home buyers responsibility to complete the process.