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Apr 25

City of Pensacola Housing Incentive Program Underway

Posted on April 25, 2018 at 9:03 am by Dawn Corrigan

Tracy Pickens Jan 2018In January, the City of Pensacola launched a new affordable housing program, the Housing Incentive Program (COPHIP), a homebuying initiative for low and moderate income households that include a household member who works in an essential service role anywhere in Escambia County, Florida (including incorporated Pensacola and Century). The program enables these households to purchase a home within Pensacola city limits and take advantage of the “live-work-play” opportunities afforded by our metropolitan core.

To qualify, households—which can be a one-person household or have more than one member—must have a gross annual household income at or below 120 percent of the area median income, adjusted for household size, and must qualify for a 30-year, fixed mortgage from a qualified lender. The maximum purchase price for homes purchased under this program is $250,503.00. New construction is permitted.

The program works by providing qualified households with up to $15,000.00 in down payment and closing cost assistance in the form of a zero-interest forgivable loan, which is forgiven in equal increments over a five-year period.

As of April 2018, the income limits for this program are as follows:

Household Size Income Limit

1 $54,940

2 $62,640

3 $70,440

4 $78,240

5 $84,600

6 $90,840

7 $97,080

8 $103,320


As defined in the 2017-2019 Local Housing Assistance Plan (LHAP) for Escambia County and the City, essential service personnel are employees who work for an organization in Escambia County, Florida (including incorporated Pensacola and Century) in any of the following categories:

Local or State Law Enforcement, Fire, Rescue, and Emergency Services, Public Safety and Emergency Management
Teachers, Educators, and School District personnel in the public, private and university systems
Health Care Professionals and support personnel
Tourism Industry professionals and employees
Judicial/Court System management and support personnel
Service Industry personnel (including child care, hospitality, and food service)

Residents who would like more information about this program should contact Program Manager Tracy Pickens at (850) 858-0350 ext 8 or tpickens@cityofpensacola.com.