For housing information, including city and county maps, labor shed analysis, data for decision makers, local financial information, tax abatement incentives, Tax Increment Finance (TIF) policy, please contact Nevada Economic Development Council Executive Director LaVon Schiltz or visit the NEDC website.
For real estate and rental information information – See Nevada Chamber of Commerce or www.iowarentalhelp.com.
City receives Housing Grant to provide assistance to residents
Last October, the City Council voted to contract with Region XII Council of Governments (COG) in Carroll, IA to administer and write a HOME Grant through the Iowa Financing Authority. The HOME Grant application is for down payment and rehabilitation for low to moderate income families who are first time homebuyers in Nevada.
On April 9, 2014, the Iowa Finance Authority (IFA) approved the application, whereby the City is providing a $30,000 match for a minimum of 10 projects. The total grant request is $412,000. The City offers a minimum of 10 low to moderate income families with an opportunity to receive down payment assistance and rehabilitate their homes with up to $33,000 in grants. Applicants will agree to stay in the homes for 5-10 years, depending on the amount, as this assistance is secured with a 5-10 year forgivable lien.
Region XII COG will send out applications and determine income eligibility while working closely with the financing institutions. If interest is strong and we have more eligible applicants than money, then Region XII will establish a waiting list.
Once eligible, Region XII would inform the applicants and work with them to get other information needed, such as the target home to purchase, bank financing, etc. Once the program is established, most references come from the local banks and realtors. Region XII would plan to have a meeting for these parties.
The first project would likely begin at the end of next summer, assuming an award in late spring. The majority of projects will be complete in fiscal year 2016 and some may be in fiscal year 2017.
If citizens would like to apply and determine eligibility, please contact Laurie Gilbert at Region XII at 712-775-7820.