Governor Culver Announces $29 Million in Housing and Disaster Recovery Awards

DES MOINES, IA – May 13, 2010 – (RealEstateRama) — Governor Chet Culver today announced $29 million in housing fund awards to 47 recipients through Community Development Block Grants (CDBG) and the HOME Investment Partnership Program (HOME). Also announced were an additional nine awards that received funding as a part of the $516.7 million in Community Development Block Grant (CDBG) Disaster Recovery Funds announced in October 2009. The Iowa Department of Economic Development received the CDBG allocations from the U.S. Department of Housing and Urban Development.

“These projects support the foundation of Iowa communities through safe and affordable housing, which is a necessary component for vital communities,” Governor Culver said. “This is another resource that is part of our effort to move Iowa forward.”

Twenty-five percent of the CDBG allocation to IDED is designated for housing and compiled into a housing fund. The CDBG program works to ensure decent affordable housing, to provide services to the most vulnerable in our communities, and to create jobs through the expansion and retention of businesses. (www.hud.gov)

The HOME Program helps to expand the supply of decent, affordable housing for low- and very low-income families by providing grants or loans to local governments or developers. They use the HOME grant/loan to fund housing programs that meet local needs and priorities. HOME funds may be used to help renters, new homebuyers, or existing homeowners. (www.hud.gov)

2010 Housing Fund “Conditional” Awards

Willoway Heights, L.L.C.

$540,000

acquisition and rehabilitation of a senior housing project
Upper Des Moines Opportunity

$900,000

rehabilitation of 25 apartments in Spencer, Iowa
Habitat for Humanity of Iowa

$423,000

homeownership assistance for 11 first-time homebuyers
Carroll

$362,500

rehabilitation of 10 units with down payment assistance
Mason City

$312,500

assistance for eight first-time homebuyers
Manchester

$252,000

assistance to seven first-time homebuyers
Postville

$312,800

assistance to eight first-time homebuyers
Ottumwa

$411,192

assistance to eight first-time homebuyers
West Bend

$213,400

rehabilitation of six owner-occupied, single-family units
Emmetsburg

$247,200

rehabilitation of eight owner-occupied single-family units
Sheffield

$296,920

rehabilitation of eight owner-occupied single-family units
Garnavillo

$234,600

rehabilitation of six single-family owner-occupied units
Redfield

$212,994

rehabilitation of six owner-occupied single-family units
Swea City

$296,920

rehabilitation of eight single-family owner-occupied units
Seymour

$237,494

rehabilitation of six single-family owner-occupied units
Elgin

$233,994

rehabilitation of six single-family owner-occupied units
Storm Lake

$307,500

rehabilitation of 10 single-family owner-occupied units
Paullina

$197,700

rehabilitation of six single-family owner-occupied units
Avoca

$378,000

rehabilitation of 10 single-family owner-occupied units
Fayette

$312,800

rehabilitation of eight single-family owner-occupied units
Griswold/Scott County Housing

$388,000

rehabilitation of 10 single-family owner-occupied units
Alliance

$480,900

assistance to 40 first-time homebuyers
Mason City Housing Authority

$214,215

tenant based rental assistance of 30 units towards rental subsidy
Downtown Partners, Inc.

$855,000

upper story rental rehab. of 14 apartments in Burlington, Iowa
Mount Pleasant

$164,999

upper story rehabilitation of three apartments
NE Iowa Community Action Corp.

$200,000

construction of 3 new single-family homes
West Burlington

$369,990

rehabilitation of 10 single-family owner-occupied units
Wellman

$226,234

rehabilitation of six single-family owner-occupied units
Washington

$218,234

rehabilitation of six single-family owner-occupied units
Readlyn

$210,269

rehabilitation of six single-family owner-occupied units
Sumner

$269,292

rehabilitation of eight single-family owner-occupied units
Dakota City

$230,884

rehabilitation of six single-family owner-occupied units
Lenox

$202,500

rehabilitation of five single-family owner-occupied units
Polk County

$353,988

rehabilitation of 12 single-family owner-occupied units
Iowa Falls

$329,990

rehabilitation of 10 single-family owner-occupied units
Corydon

$237,536

rehabilitation of six single-family owner-occupied units
Truro

$202,500

rehabilitation of five single-family owner-occupied units
Stratford

$295,770

rehabilitation of eight single-family owner-occupied units
Maquoketa

$423,988

rehabilitation of 12 single-family owner-occupied units
Fort Des Moines Sr. Housing, LLLP

$900,000

construction of a 60-unit apartment complex for Seniors 55+
South View Sr. Apartments II, LLLP

$703,833

construction of a 40-unit apartment complex for Seniors 55+
Legacy Manor, LP

$900,000

construction of a three-story apartment building for Seniors 55+
Olive St. Brickstone Housing, LLLP

$232,000

construction of a 21-unit apartment complex
Christ the King Sr. Housing, LLLP

$900,000

construction of a 28-unit apartment complex for Seniors 55+
Woodland West Associates, LP

$900,000

renovation of two apartment buildings
MLK Brickstone II, LP

$520,000

construction of a 30-unit apartment building for families
428 Walker

$275,000

renovation of 11 apartments for families

On Oct. 2, Governor Culver announced that the $516.7 million CDBG action plan was approved by the Department of Housing and Urban Development (HUD). The following awards are the most recent allocations that have been made under the CDBG action plan. These will supplement funds already allocated to disaster affected areas.

Community Development Block Grant (CDBG) Disaster Recovery Funds.

Ft. Des Moines Sr. Housing, LLLP

$2,421,549

construction of a 60-unit apartment complex for Seniors 55+
South View Sr. Apts. II, LLLP

$835,051

construction of a 40-unit apartment complex for Seniors 55+
Legacy Manor, LP

$2,060,267

construction of a three-story apartment building for Seniors 55+
Olive St. Brickstone Housing LLLP

$1,118,807

construction of a 21-unit apartment complex
Christ the King Sr. Housing, LLLP

$622,708

construction of a 28-unit apartment complex for Seniors 55+
Woodland West Associates, LP

$2,280,000

renovation of two apartment buildings
MLK Brickstone II, LP

$1,100,580

construction of a 30-unit apartment building for families
Walker Corners, LLC

$214,234

renovation of 11 apartments for families
Sugar Creek Bend, LLLP

$630,470

construction of 20 single family homes
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