For Sale: 336 S. Governor Street Est. $180,000 + carrying costs

1,680 square feet 4 bedrooms; 1 bathroom Built in 1913

Renovations: All new kitchen Improved layout Restored hardwood floors Bathroom updates and possible addition of 2nd bathroom

The UniverCity Neighborhood Partnership is a cooperative effort between the University of Iowa and the City

of Iowa City. The mission of the program is to preserve and build upon the unique character of residential

neighborhoods adjacent to the University of Iowa Campus by ensuring that these neighborhoods remain vital,

safe, affordable, and attractive places to live and work.

Affordable, owner-occupied housing

The City of Iowa City has selected twenty-six homes throughout the designated neighborhoods to be

purchased with special financing from local lenders. A $1.25 million State I-JOBS grant will fund up to

$50,000 of renovations per home. After renovations are complete these homes will be sold as affordable,

owner-occupied housing for income qualified buyers.

Also For Sale:

www.icgov.org/univercity or www.facebook.com/univercityia

412 Ronalds Street Est. $176,000 + carrying costs

1,400 square feet

4 bedrooms, 1 bath

Renovations:

New roof and porch repairs

All new kitchen

Possible addition of 2nd bathroom

320 E. Fairchild St. Est. $185,000 + carrying costs

1,248 square feet

4 bedrooms, 2 baths

Renovations:

New kitchen

Bathroom updates

Yard grading/tiling

Sidewalk replacement

For more information visit www.icgov.org/univercity or call 319.356.5230 Find us on Facebook at www.facebook.com/univercityia

Who qualifies to purchase these homes? To qualify for the program, you must be pre-qualified for a

mortgage and your gross household income must fall within the following income limits—maximum

income. Incomes must be verified and will be checked as part of the application process.

1-2 persons no more than $63,360

3-5 persons no more than $72,864

6 persons no more than $73,500

The opportunity to purchase a specific home will be determined on a first come, first serve basis.

Preference will be given to applicants who work within the designated neighborhoods, on the

University of Iowa Campus, in downtown Iowa City, or in areas in close proximity to the neighbor-

hood in which the house is located.

University employees who qualify and who are selected to purchase a home through this program

may also be eligible for down payment assistance in the amount of 5% of the purchase price for

homes valued at less than $180,000 or 10% of the purchase price for homes valued at $180,000 or

greater (funding provided by the University of Iowa). Down payment assistance will only be consid-

ered for homes that are part of this program.

Other Terms of Purchase: Homebuyers who are selected to purchase one of the homes will pay the

original acquisition price plus loan and carrying costs which may include interest for time property is

held in City ownership, recording fee for construction loan mortgage, mowing and snow removal,

utilities, real estate taxes, and insurance. The costs of renovations up to $50,000 will not be passed

on to homebuyers so long as the home remains affordable for five years and owner-occupied for

twenty years.

How to apply for the program: Download an application from our web site at

www.icgov.org/univercity or pick up an application at the Department of Planning

and Community Development, 2nd floor, City Hall, 410 East Washington, Iowa City.