NSP Update

hfhbi — Tue, 22 Mar 2011 18:24:25 +0000

To date the City of Burlington has demolished the homes at 251 S. Central and 1315 Washington St that had previously been placarded as abandoned and unsafe. The home at 703 Summer St was demolished and a new cape cod style home was placed on the property, and has just recently sold to an income qualified family. The home at 1613 Lincoln St was rehabbed and currently has a sale pending.

We currently have secured bids for the rehab of 805 S. 8th and 1400 S. 13th St. Both of these homes will be rehabbed and sold to low-moderate income families. We are currently seeking bids for the rehab of 408 S. Gunnison St, which will also be rehabbed and put on the market.

The homes must be listed and sold for either the appraised value of the finished home or the cost of the project, whichever is less. However, there may be down payment assistance available through the program, which is based on individual need. Homeowners must secure their own financing.

All monies made back from the sale will go back to the neighborhood stabilization program for future projects. Please stay tuned for future updates.

About the Burlington NSP Program

hfhbi — Fri, 02 Apr 2010 14:34:16 +0000

The City of Burlington has received funds from the federal government to purchase, rehab, and sell foreclosed or blighted homes to income-qualified persons at no profit. The City of Burlington is currently seeking qualified individuals to purchase these homes. The program is offered to those individuals making less than 120% of the Annual Median Income (AMI) for Des Moines County, while some of the properties are required to be sold to individuals making less than 50% AMI. The program requires the City of Burlington to ensure the properties affected by this program will remain affordable for low to moderate income families; therefore the City of Burlington will be placing a deed restriction on the properties for a number of years, depending on the amount of subsidy put in the home.

Burlington Neighborhood Stabilization Program

NSP Update

About the Burlington NSP Program