City launches 'ROOTs' media campaign about housing program

This week, the City of Cedar Rapids is launching a multi-media marketing campaign to promote the “ROOTs” housing program. The City, in conjunction with the Iowa Department of Economic Development, is offering down payment assistance up to 25% of the purchase price of an approved housing unit to income-qualified applicants through the “ROOTs” program.

The City will be running newspaper ads in The Gazette and television ads on KCRG-TV9, KGAN/CBS 2 and six cable channels from September through November to reach eastern Iowa residents who may be interested in buying a new home or condominium in Cedar Rapids. The marketing campaign and housing assistance are funded by a Community Development Block Grant provided through the Iowa Department of Economic Development.

“We know that Cedar Rapids is a great place to live,” said City Manager Jeff Pomeranz. “Now we want other eastern Iowans to know about it. This is a great opportunity for people to own their own home. Over 400 residents have already taken advantage of this program. We have received funding to offer this program to 200 more potential homeowners.”

“ROOTs” stands for Rebuilding Ownership Opportunities Together. This program is also known as the third round of the Single Family New Construction program, which was created to replace housing units lost as a result of the 2008 flood.

To be eligible to participate in the “ROOTs” program, buyers must be at or below 100% of the Area Median Income (AMI) limits established annually by HUD and able to secure an approved mortgage through a qualified lender. Households below 80% AMI must make up at least half of the buyers in this program.

The City's funding award to a buyer of up to 25% of the purchase price will be secured as a 5-year forgivable mortgage against the property which decreases at a rate of 1/5 per year. The property must be maintained by the homeowner as their primary residence during the five year affordability period.

For more information about the program, call 319-286-5872 or visit

www.RootsInCR.com.