The City of Stuart has received the green light and is currently in the initial stage of local set-up for the $397,000 grant they received from the Iowa Economic Development Authority to be utilized for local housing rehabilitation. This grant will be used to rehabilitate at least ten owner-occupied homes of low-to-moderate income families, with the goal of eliminating health and safety hazards, increasing energy efficiency, minimizing homeowner maintenance and expanding the life of the home by ten years.
Region 12 Housing Program Manager Laurie Gilbert says surveys were sent to the residents of Stuart last fall and the homeowners that responded established the targeted area boundaries for eligibility. Applicants must provide income verification and must show that they are current in real estate taxes, insurance premiums and all utility payments. Gilbert says they will be asked to provide a simple deed and show proof that they’ve been living in the home at least 6 months prior to applying for the funds.
Gilbert says eligibility will work on a points system. Points earned are determined by income of household, how many children are living in the home, whether a resident is over the age of 62, and whether anyone is handicapped. If applicants own assets, those assets will also accumulate deduction points. Region 12 works with those most in need, Gilbert added.
Gilbert says once applications are received, they will take the top ten ranking applicants and clear those with the City of Stuart. Personal meetings with the family will be conducted and necessary inspections will be performed. The approved applicant will then be awarded a five-year forgivable loan which usually averages $23,000 to $24,000.
Region 12 Council of Governments will be accepting applications for the first competitive round no later than October 19, 2012. To receive an application, contact Cindy Rae McIntoch at email@example.com or call 712-775-7822. Applications can also be picked up at Stuart City Hall. Gilbert says if funds are available after the first round, assistance will be provided on a first come first serve basis.
For more information, contact Laurie Gilbert at 712-775-7822.