The South District Home Investment Partnership Program is an effort by the City of Iowa City to encourage reinvestment in the South District project area and to create affordable homeownership opportunities for current neighborhood residents. The City will purchase, rehabilitate and sell duplex units in the South District, concentrating on Taylor Drive and Davis Street.
**Winner of the 2020 HousingIowa Innovation Award from the Iowa Finance Authority
Program Goals
- Provide affordable homeownership opportunities for low income residents.
- Preserve the unique character of the neighborhood.
- Re-establish a balance of rental and owner-occupied homes.
- Encourage investment in the neighborhood.
- Ensure the neighborhood is a safe, affordable and attractive to place to live for both renters and homeowners.
Who qualifies to purchase these homes?
To purchase a home through the South District Program, your annual household income must be under 80% of the Area Median Income (AMI) as shown below. Household income includes the total income of all adult household members, except those under 24 years of age who are enrolled in college.
2020 Annual Household Income Limits (effective 7/1/20, adjusted annually)
2021 Annual Household Income Limits (effective 6/1/21, adjusted annually)
Maximum Household Income:
1-person household: $55,850
2-person household: $63,800
3-person household: $71,800
4-person household: $79,750
5-person household: $86,150
6 person household: $92,550
Effective June 1, 2021
Buyers must also participate in free homebuyer education classes prior to purchasing the home. Down payment assistance will be provided based on need and HOME program underwriting standards. Buyers must be able to obtain financing for the cost of the home not covered by down payment assistance.
Preference for purchasing units shall be:
- Any existing/former tenants of the selected properties
- Taylor Drive and Davis Street residents
- Residents of the broader project area and Iowa City Housing Authority Family Self-Sufficiency (FSS) participant
Available Properties
1232 Sandusky – Sold
1234 Sandusky – Sold
2131 Taylor - Sold
2021 Taylor - Under renovation
How to Apply
If you are interested in participating in the program, submit the online application below.
South District Program Homebuyer Application
For more information about the application and purchase process, please view our Applicant Guide.
Contact
Neighborhood Services
City Hall, Second Floor
410 E. Washington St.
Iowa City, IA 52240
Liz Osborne: 319-356-5246
Liz-Osborne@Iowa-City.org