HomeMy WebLinkAbout1992-06-23 Public hearing
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NOTICE OF PUBLIC HEARING
A public hearing is scheduled for June 23, 1992. in
conjunction wnh the Cny of Iowa City Cny Council meeling, The
City of Iowa Cny proposes to apply to the State of Iowa
Department of Economic Development for Home Investment
Partnership Program funds, The HOME funds will be used to
supplement the City of Iowa Cny's existing Housing
Rehabilitation Program. The public hearing will allow cnlzens to
present comments on the proposed application. The City of
Iowa City proposes to submit the application approximately July
1,1992,
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City of Iowa City
MEMORANDUM
June 17, 1992
To:
City Council
Pam Barne~ehabilitatiOn Officer
Mary NUgetssociate Planner
HOME Investment Partnership Program funded through the Iowa Department of
Economic Development (IDEO) to request $400,000 for the owner-occupied housing
rehabilitation program
From:
Re:
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The following Is a summary of the application we will be submitting to the iDEO for owner-occupied
housing rehabilitation funding. It Is requested that you review this information and provide a positive
recommendation in support of the application.
The HOME Investment Partnership Program provides financial assistance for a variety of housing
projects, programs, and activities which contribute to the goal of providing decent, safe, and affordable
housing for low and moderate income persons. Because of the flexibility that these funds can provide
in developing creative Innovative projects, we feel this is an ideal opportunity to request funding for
a single-family owner-occupied comprehensive housing rehabilitation program that is not currently
possible under other funding sources,
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There has been an ongoing need in Iowa City for a program that would allow for the rehabilitation of
single-family owner occupied rehabilitation units that have marginal or no equity. The federally funded
CDBG program that has been used extensively in Iowa City is structured only for applicants who have
adequate equity to cover a loan or a lien. Many worthwhile applicants with stable employment and
credit histories are denied approval because they do not have adequate home equity to secure
funding. In addition, because of the cost of comprehensive rehab, only a few such projects can be
done annually with the CDBG funds allocated. Currently the Housing Rehabilitation Program wailing
list for owner-occupied rehab funding includes 20 applications.
The details of the application for HOME funds are as follows:
. The application will request $400,000 of funds to rehabilitate approximately 16-20 single family
owner occupied homes.
. The program funds 100% of the rehabilitation cost with the financing being In the form of a loan
and/or lien.
. The maximum amount will be $25,000 per home.
. A resale agreement will be recorded that would be assumable by another low income purchaser
(below 80% of median Income).
If sold to purchaser whose Income exceeds 80% of the median income at the time of resale, the
balance of the loan or lien would be returned to the City.
. Any HOME funds returned through loan repayments or loanllien payoffs would be recycled to future
low Income applicants under the HOME program.
We plan to make application for HOME funding for other affordable housing projects In the future.
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City of Iowa City
M E M 0 RAN 0 U M
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( TO: Naomi Novick
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, FROM: Rick Fosse
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DATE: June 23, 1992
RE: Two-Lane to Four-Lane Transitions
,
! ' As requested, I have compiled the following information regarding
existing transitions from two to four lanes.
LOCATION
TliO-LANE liIDT!! FOUR-LANE liIDT!!
Park Rd. east of Iowa River
Burlington St, at Summit St.
Gilbert se at Market St.
First Ave. at Bradford St.
Kirk\'lOod Ave. at Gilbert'St.
Mormon Trek Blvd. at ,Plaen
View Drive
25'
31'
31'
33'
31'
31'
56'
49'
1,5'
1,5'
45'
45'
CCI Steve Atkins
'chuck Schmadeke
City Council
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To:
l'IGmber.s of City Council
Fr(lrrl:
DBD .PJl'tnership- Dick Brown I Morrie Adams, D','!I Banda
Re:
\l'idening of Kirkwood Avenue/Lower MlIscat;!,r.t~
We ax'e concerned about the widening of Kirkwood Avenue from
the current 2 lanes to either 3 or ~ lanes. We own the building
at 320 Kirkwood Avenue and should the street be widened to IJ,
lanes the street would be 6-10 feet from our front door.
It would be our recommendation and wish that the sh'eet be
wi.dened to cnll' 3 lanes rather than ~,
Thank you for your
considr.ration of our dilemma.
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