|(APRIL 23, 2012) EXTENSIVE REMODELING EFFORTS AT 25-UNIT APARTMENT COMPLEX IN VAN HORNE COMPLETE|
|USDA Rural Development Provided $175,000 Loan to Assist with Renovations|
|Des Moines, Iowa, Apr 23, 2012
The project, which was financed through a $175,000 loan from USDA Rural Development, included such things as the replacement of windows and exterior doors at the Northview building, as well as the renovation of two handicapped-accessible units and community room renovations at the Westview site.
“Apartment buildings play an important role in the sustainability of rural communities,” said Bill Menner, USDA Rural Development State Director in Iowa. “We are pleased to be helping with this remodeling project at Citizens Inc. that ensures this complex will continue meeting the housing needs of Iowans for many years to come.”
Citizens Inc. is a 25-unit apartment complex serving families and individuals. This year’s renovation efforts mark the largest remodeling initiative since the fist building was constructed 39 years ago.
For more information about renting opportunities at Citizens Inc. please call Rightway Management Services, LLC at (563) 432-6160.
Many apartment complexes in Iowa, like this one in Van Horne, are aging and in need of significant renovation and repair. That is why USDA Rural Development recently awarded a $2 million loan to the Iowa Finance Authority to support a newly created revolving loan fund program that will help preserve and revitalize apartment buildings in rural Iowa.
“It is USDA’s goal to extend and enhance the use of as many apartment complexes as possible so the state’s rural communities can continue to provide quality and affordable housing opportunities,” Menner added.
USDA Rural Development currently provides financing for 500 multi-family housing projects in rural Iowa. These facilities provide rural Iowans with access to more than 9,600 apartments. Rent
in the apartments is based on income and rent assistance from the government is available depending on the income of the tenant.
USDA Rural Development currently administers and manages more than 40 housing, business and community infrastructure and facility loan and grant programs designed to improve the
economic stability of rural communities, businesses, residents and farmers and improve the quality of life in rural America.
This past year USDA Rural Development’s investment in Iowa helped create or retain more than 1,900 jobs, aided 2,000 families in buying their own homes and assisted more than 80 communities as they made improvements to their facilities, services and infrastructure.
Contact USDA Rural Development
For more information about finance programs available through USDA Rural Development, please call the office located in Tipton at (563) 886-6006 Ext. 4. This office serves communities, businesses and residents in Benton, Cedar, Clinton, Dubuque, Iowa, Jackson, Johnson, Jones, Linn and Scott Counties.
USDA Rural Development has 11 offices across the state to serve the 1.7 million Iowans living in rural communities and areas. Office locations include a State Office in Des Moines, along with Area Offices in Albia, Atlantic, Humboldt, Indianola, Iowa Falls, Le Mars, Mount Pleasant, Storm Lake, Tipton and Waverly.
Further information on programs available through USDA Rural Development is available by visiting the agency’s web site at www.rurdev.usda.gov/ia.
USDA Rural Development is an equal opportunity provider, employer and lender.
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