The City of Nevada announces the availability of funding to support major home improvements and repairs to those who qualify. This program is designed to assist Nevada homeowners in fixing up their homes. Funding partners include the City of Nevada and the Story County Housing Trust Fund (SCHTF).
We anticipate that $60,000 in funding will be available to support major improvements. Funds from the SCHTF matched with support from the City of Nevada can assist homeowners that qualify within the city limits of Nevada with up to $10,000 ($1,000 minimum request) in financial assistance to address critical life and safety issues, assist individuals in need, and/or remedy a problem to improve living conditions of their home. The financial assistance will be in the form of deferred loans; at the end of the five-year term, the loan may be forgiven.
Other program requirements include:
- Property must be a single-family household dwelling (mobile/manufactured home included)
- Property taxes, assessments, and City utilities must be current and paid to date.
- Property must comply with nuisance ordinances and be free of garbage/debris/refuse/junk and junk vehicles and be reasonably clean and sanitary.
- The expected life of the structure after rehabilitation should be at least 20 years. This determination to be made by the City Building Inspector.
- Property must be safe for inspector and the contractor.
- City Building Inspector will inspect property before application approval and upon completion of the work if application approved for funding.
- Homeowners will be required to submit two bids/estimates for the improvements if possible.
- One year of occupancy in residence is required before the date of the application.
- Applicants may not have received loans from the City exceeding $10,000 in the last five months.
Applicants interested in this program must be at or below 80 percent of the average median income for their household size for Story County. Income verification will be conducted by a third party as part of this application process. Projects cannot be started until application approval; work must be completed by May 31, 2025. Request for payments must be submitted no later than June 15, 2025.
Applications are available by clicking the link below. Applications are due back to City Hall by 5 p.m. on Feb. 19. Those selected to receive funding will be notified by Feb. 25. Funds will be made available only after the expense has been incurred and paid directly to the contractor after both homeowner and City Building Inspector have signed off on the work. The City of Nevada reserves the right to determine eligibility, set the number of financial awards, determine the amount of funds available, and ensure program compliance.
Questions can be directed to Brenda Dryer, brenda@amesalliance.com. The Ames Regional Economic Alliance is administering and serving as the Project Advisor for this program for the City of Nevada.
