The Center City Development Office created the Center City Implementation Plan (PDF) to help implement the Downtown Strategic Framework Plan (PDF) of increasing public investment, creating a housing finance strategy, coordinating management and regulating development. The plan recommended the City establish a predictable incentive system for housing in the center city. Therefore, the Center City Housing Incentive Policy (CCHIP) was created.
What Does CCHIP Do?
CCHIP provides financial incentives for multi-family housing projects in targeted areas within the original 36 square miles of the city, known as the Community Revitalization Action Group (CRAG) area. This as-of-right incentive program offers eligible projects City and Water Impact Fee Waivers, up to a 15-year Real Property Tax Rebate (City ad valorem taxes only), up to $7,500 per housing unit in a Low Interest Loan (LIBOR plus 75 basis points) and a Mixed Use Forgivable Loan equal to $10 per square foot of commercial space and $20 per square feet of retail space.
Targeted Growth Areas
CCHIP focuses on housing redevelopment within eight Targeted Growth Areas identified by the Downtown Strategic Framework Plan: Midtown/River North, Downtown Core, Cesar Chavez/Hemisfair Corrridor, Near River South, Medical District, Civic Core, Near East Side and Near West Side. These areas are well positioned for residential growth and for mixed-use development based on an assessment of market momentum, physical capacity for growth and proximity to areas with established neighborhood character.
Please review our qualifications before applying for CCHIP incentives:
CCHIP Program Manual (PDF)
CCHIP Application (PDF)