Brochure

New Construction Impact Fee Program

• The Impact Fee program for new construction assists first time homebuyers who are building a new home or purchasing a home from a builder/developer that has never been occupied
  
  
• OHCD offers a 0% deferred payment loan to ensure that new affordable homes will be constructed in Sarasota
  
  
• Repayment of the loan is required if the home is sold, the property transferred, the home is no longer owner-occupied or 30 years has passed
  
  
• This program can be combined with OHCD's Down Payment Assistance Program
  
  
• Payment will be on a reimbursement basis- once proof of the payment has been submitted, a check will be sent to the title agent for closing
  
  
• Applicants must make less than 80% of the area median income, as shown below, and must be building a home under $216,000 to be eligibile for the program