Upper Explorerland RPC realizes first time homebuyers must make sacrifices to save enough for a down payment on a home, but for some it seems impossible to be able to find the funding to close on the desired property. With the award of the HOME funds, homebuyers may receive up to $24,999 in assistance for rehabilitation and down payment assistance. This program is an affordable way for homebuyers to realize their dream of homeownership. Assistance is in the form of a 5 or 10 year receding forgivable loan.
The HOME Program was created the National Affordable Housing Act of 1990 (NAHA). The intent of the HOME program is to provide decent affordable housing to lower-income households, expand the capacity of nonprofit housing providers, strengthen the ability of state and local governments to provide housing, and leverage private-sector participation.
Each participating jurisdiction incurs a 25 percent matching obligation for HOME funds it expends. Matching contribution must be:
Homebuyers have to meet their affordability, depending on the amount of HOME funds they receive, but they also have to maintain their home as principal place of residency and have insurance on the property. Principal place of residency and insurance documentation must be submitted to Iowa Finance Authority (IFA) for proof of compliance during the affordability period. The home must meet Iowa's Minimum Housing Standards upon completion.
If you are interested and would like more information on if you qualify, we would like to hear from you! Applications can be picked up at the city halls in each of the participating communities, printed from the documents below or by calling Upper Explorerland RPC, at 563-864-7551 ext. 106. TTY users call 1-800-735-2942. Relay call 7-1-1.
For more information, contact Lori Brockway.
Some of the headlines you can read about this month:
Housing Program Meeting Being Held
Tuesday, May 19th at 11:00 a.m.
Oelwein Chamber and Area Development
25 West Charles, Oelwein, IA
Upper Explorerland Regional Planning Commission (UERPC) is hosting a meeting regarding housing programs that are available in Northeast Iowa. Guest speakers include Jeremy Babcock and Steve Benne with Iowa Economic Development Authority (IEDA), Jerry Floyd and Rita Eble from the Iowa Finance Authority (IFA) and Kathy Pfiffner from USDA.
Hot Topics include:
This meeting will be held on Tuesday, May 19, 2015 at 11:00 A.M. at the Oelwein Chamber and Area Development office at 25 West Charles Street, in Oelwein. If you are interested in attending this meeting or would like more information please contact Mary Huinker at 563-864-7551 ext. 111 or by emailing Lori Brockway at firstname.lastname@example.org.
Clayton County Development Group in Elkader the U.S. Small Business Administration (SBA) in Cedar Rapids and Upper Explorerland Regional Planning Commission in Decorah are holding an informational session on various sources of financing for start-up & existing businesses. SBA, a federal government agency devoted to assisting small & medium-sized businesses, will have a representative discussing business loan options, and Clayton County Development Group and Upper Explorerland Regional Planning Commission will have a representative discussing RLF funds available for businesses. The 1-1/2 hour session, including questions & answers, will take place on Tuesday, May 12th starting @ 5:30 PM at Clayton County Office Building at 600 Gunder Rd. in Elkader, Iowa. Register today to attend contact Darla Kelchen at 563-245-2201.
WHAT: Free informational session on sources of money for businesses
WHO: New/start-up and existing business owners/managers
WHEN: Tuesday, May 12th, 2015 starting @ 5:30PM & wrapping up by 7PM
WHERE: Clayton County Office Building 600 Gunder Rd. Elkader
Join Clayton County Development, Upper Explorerland Regional Planning Commission and SBA to learn more about the options available for financing your business. Also, discussed briefly will be government contracting opportunities and free counseling along with low cost training resources available for businesses. Get your questions answered. Register by contacting Darla at the CCDG office at 563-245-2201.
UERPC is seeking car bids for a 2007 Malibu, LS V6 package, 141,993 highway miles, grey, four-door, cloth interior, very clean. Minimum bid is $2,400.
Please submit sealed bids to Executive Director, Rachelle Howe, UERPC, 325 Washington Street, Decorah, IA 52101. Bids will be opened at 12:00 Noon on May 7th. You do not need to be present at opening of bids.