Hope Haven to rehabilitate house for disabled residents
DES MOINES — Hope Haven is the recipient of two loans that will aid in the acquisition and rehabilitation of a home in Mt. Pleasant.
The Iowa Finance Authority announced Monday that Hope Haven received two loans through the Community Housing and Services for Persons with Disabilities Revolving Loan Fund.
The loans will provide the financing for the house acquisition and rehabilitation in Mt. Pleasant that will allow four residents with disabilities to remain in the community.
Plans for the home in Mt. Pleasant call for a four-bedroom house with two bathrooms and accessibility features on the first floor. Hope Haven will provide the support to the individuals living in the home.
Hope Haven actually received two loans through the program, totaling $140,000 at zero percent interest, $120,000 of which is forgivable in five years.
The Community Housing and Services for Persons with Disabilities Revolving Loan Program Fund provides affordable financing for the construction or rehabilitation of supportive housing for individuals with significant barriers to accessing traditional rental opportunities. The program is jointly administered by the Iowa Finance Authority and the Iowa Department of Human Services.
“The Iowa Finance Authority is proud to partner with the Iowa Department of Human Services to provide Hope Haven the resources needed to break down housing barriers for individual with disabilities,” said Dave Jamison, Iowa Finance Authority executive director.
Program applicants must receive approval from the Iowa Department of Human Services on a proposed service plan before submitting a non-competitive application to the Iowa Finance Authority for an affordable construction loan offered at zero to one-percent interest.