Homebuyer assistance deadline draws near

CEDAR RAPIDS - Here comes the deadline to get a big government boost on buying a home in Linn, Johnson or Washington Counties.

A federally-funded program that offers 30 percent down payment assistance for new construction outside Iowa City and Cedar Rapids city limits has identified 66 building sites and is accepting applications until 4 p.m. Wednesday.

“The intent of the program is to replace housing units that are being torn down by the flood,” said Tracey Achenbach, executive director of the Housing Trust Fund of Johnson County. “We're not getting the applications we were hoping to get.”

Flood victims will be given preference, but anyone who meets the income guidelines - a family of three making no more than $68,400 or an individual making no more than $53,200 - can apply for the program.

The grant - up to $54,000 - comes in the form of a loan that is forgiven after the recipient lives in the home for five years. Construction won't begin on any of the homes for at least another 30 days.

“Because of the federal dollars coming into it, there has to be environmental clearance,” Achenbach said.

Twelve homes will be built in Palo.

For information on income guidelines, and to download an application, go to www.ECICOG.org/newhomes Questions can be directed to Tracey Achenbach or Andrew Donham at (319) 358-0212.

Iowa City and Cedar Rapids have similar programs but are further along in the process. Forty homes will be built in Iowa City, and 34 are already under construction. The city is no longer accepting applications.

In Cedar Rapids, 177 homes will be built. Applications are still being accepted, and are available at Cedar Rapids Housing Services, 1211 Sixth St. SW, or its website, www.cedar-rapids.org/housing/new_construction_program.asp