We’ve been awarded formal approval for the previously recommended down-payment funding for two more houses - to the tune of $87,000! Note the original total was increased by $15,000! And we were recommended and approved for more, too - $50,000 - to update our existing houses! Thank you, HUD, and thank you, Iowa City! We’re approved for the funds but it will be a couple of weeks before we receive them, and there is still documentation to be completed. But it’s all happening!
On the other hand, unfortunately, Iowa City has recently declared a moratorium on issuing new rental permits until December 31st. We’re appealing that, because our clients have extreme need, and we want to get our new rental houses up and running before that if we possibly can. But still, the upside is that our new houses will definitely be coming along either sooner or later. We hope sooner. We’ll see how it goes and keep you posted.