The project home for the 2011/2012 school year is well underway. This project is still a joint venture with W.I.T. carpentry and electrical classes, plus we have a new partner. The City of Sioux City’s Neighborhood Services division obtained grant money from HUD to revitalize a neighborhood by building a new home. Terry Bernhardt is our construction manager, Bob Wilcke and George Kotter are the instructors from Western Iowa Tech.
The Home Builders Association has taken on this project which will be paid for with $160,000 in grant money. The house will be sold for less than $100,000 – what a bargain!!. The home must be sold to a qualified person that is at or below the 50% median income guidelines. There is also downpayment assistance money available through the MyPad program with the City of Sioux City. The buyer can receive up to $10,000 from this program for a downpayment. The applicant will go through an initial screening including a credit and budget review to determine mortgage readiness – they cannot currently own a home - must go through a pre-purchase counseling and Home Buyer Education class.
The home is located at 1620 Ingleside Ave. It will have four bedrooms, two baths, kitchen, dining room, living room, main floor laundry and attached garage. It will have a full unfinished basement. The home will have 1530 sq. ft.
The following is a guideline for the 50% median income guidelines:
1 person $20,600
2 persons $23,550
3 persons $26,500
4 persons $29,400
5 persons $31,800
6 persons $34,150
7 persons $36,500
8 persons $38,850
If you know of anyone that would be interested in purchasing this home, please contact the HBA office at 712-255-3852. |
