Applications are now open for the city of Cedar Rapids’ Redeveloping Ownership Opportunities Together (ROOTs) affordable housing program.
The program is designed to assist with long-term recovery from the 2020 derecho by providing resilient and affordable single-family housing to low-to-moderate-income households.
Administered through a partnership between the city of Cedar Rapids and the Iowa Economic Development Authority (IEDA), with funding provided under the U.S. Department of Housing & Urban Development’s (HUD) Community Development Block Grant – Disaster Recovery (CDBG–DR) Program, ROOTs was allocated approximately $15 million for the development of 76 housing units in Cedar Rapids.
Construction of most homes is scheduled to begin this spring.
Key ROOTs program criteria include:
- All housing units must be sold to households which make 80% or less of the area’s median income.
- Households must have the ability to secure their own mortgage.
- Maximum sales price is $175,000 per unit.
- Down payment assistance up to $35,000 is available to eligible buyers.
- Households impacted by the 2020 derecho will receive the first opportunity to purchase a home within the first four months of advertising.
- All units will incorporate green building practices.
- The affordability period will be for 15 years, enforced by a forgivable lien on the property.
“The ROOTs program represents the city’s continued commitment to addressing affordable housing needs,” said city manager Jeff Pomeranz. “This program will be transformative, and we think the families will be thrilled with the quality of homes provided.”
“Affordable housing remains a key focus area for our city council and in our city planning efforts,” added Mayor Tiffany O’Donnell. “We encourage all eligible individuals to take advantage of this opportunity to secure stable housing for themselves and their families.”
Prospective applicants can visit CityofCR.com/Roots for more information and to access the application form and eligibility criteria. Applications are being accepted as of Feb. 15, and will be accepted until contracts are finalized for all available housing units.
