The city of Quincy has allocated $1,000,000 in general funds to establish the Small Rental Rehabilitation Program (SRRP). From that amount, a maximum of $250,000 will be set aside annually as a financial incentive for the development of residential rental housing. The goal of the SRRP is to rehabilitate existing, distressed rental dwelling units or to develop new market-rate rental units through new construction or through the conversion of existing buildings. Building owners with property west of 18th Street, within the City limits, may submit proposals for SRRP funding assistance. Properties located within the Downtown Tax Increment Finance (TIF) District are not eligible for SRRP funding. Forgivable loans are available at zero percent interest for fifty percent of the total cost of renovation/construction up to $20,000 per unit.

A public informational meeting will be held in City Hall Council Chambers on Thursday, February 24, 2022 at 5 pm. Requests For Proposals can be found on the city’s website located at www.quincyil.gov. For further information, please contact Planning & Development at 217-228-4515.