FOR IMMEDIATE RELEASE Date: 10/30/2019 Contact: Liz Osborne, Community Development Program Assistant Phone: 319-356-5246
Rental property rehab loans, grants now available for Iowa City residents
A new housing rehabilitation program is now available for rental property owners in Iowa City who are eligible for funding to rehabilitate smaller rental properties.
The Rental Rehabilitation Program allows for owners of single family and duplex rental properties in the City's targeted neighborhoods to receive up to $24,999 per unit for rehab work through a zero-interest loan and a grant provided by the City.
The program is funded primarily with federal funds from the US Department of Housing and Urban Development. Up to $90,000 is available annually on a first come, first serve basis.
This program is available for nonprofit and for-profit owners. Funding can go towards making energy efficiency improvements, making general property improvements that will aid in improving the health and safety of the occupants, and correcting housing code violations.
