This program is offered to low and moderate income homeowners in designated areas of unincorporated Polk County. The goals of the program are to maintain affordable housing and revitalize the designated neighborhoods. Families with incomes 80% and below the medium family income in Polk County are eligible to have their homes rehabilitated. Utilizing Community Development Block Grant and local funds, this program rehabilitates the property and provides for property cleanup.
Families living in a designated are notified by mail of informational meetings and application deadlines. Projects are selected on a priority basis.
Each application is calculated based on individual family income, housing costs, and the potential for lead hazards for children under six years of age.
A five to ten year forgivable loan is recorded as a lien against the property at the completion of the work. If the family remains the owner of the home for the full period of the lien the total cost of the project is forgiven. If they sell the property or change its use before the end of the lien period, a percentage of the costs will be repaid and used on new projects.
Contact: 515-286-3726 for more information or to get an application.
Neighborhood Finance Corporation
NFC provides unique lending programs and related services to facilitate targeted neighborhood revitalization in Polk County, Iowa through partnerships with residents, governments, community-based organizations and the business community. Click here to learn more: www.neighborhoodfinance.org/