GROUNDBREAKING TOOK PLACE FRIDAY FOR A LOW INCOME HOUSING DEVELOPMENT AT THE SITE OF SIOUX CITY’S OLD WEST MIDDLE SCHOOL ON WEST 5TH AND ISABELLA STREETS.
DILLON HISEROTE OF AVALON CONSTRUCTION IS THE PROJECT MANAGER OF THE ELEVEN HOME SITE:
ISABELLA1 OC……….WITH THE AREA. :16
CITY COUNCIL WOMAN JULIE SCHOENHERR PUSHED TO GET THE PROJECT STARTED:
ISABELLA2 OC…….COULDN’T LOVE MORE. ;26
SHE SAYS SOME PARK SPACE WILL ALSO BE RETAINED FOR THE PROJECT:
ISABELLA3 OC…….OVER HERE. :20
A TOTAL OF $1.7 MILLION DOLLARS IN FEDERAL HOME INVESTMENT PARTNERSHIP FUNDS WILL BE USED TO SUBSIDIZE THE CONSTRUCTION AND $700,000 IN AMERICAN RESCUE PLAN ACT FUNDING WILL BE USED TO COMPLETE THE DESIGN, CONSTRUCTION, AND CONSTRUCTION MANAGEMENT OF UPGRADED UTILITIES IN THE AREA TO SUPPORT THE DEVELOPMENT.
THE EVENTUAL HOME BUYERS WOULD EACH NEED TO QUALIFY FOR A CONVENTIONAL LOAN AND MEET ANNUAL INCOME REQUIREMENTS.
A FAMILY OF FOUR COULD NOT MAKE MORE THAN ABOUT $70,000 IN TAXABLE INCOME PER YEAR.
HOME FUNDS WILL THEN BE UTILIZED TO ASSIST WITH DOWN PAYMENT AND CLOSING COSTS TO MAKE THE
HOMES MORE AFFORDABLE.
