Categorized | Local News

City Finally Gets Qualifying Offer On NSP Home

Posted on 18 September 2012 by KWBG

BOONE, Iowa—In 2009, the Boone City Council agreed to take part in the Federal Neighborhood Stabilization Program.  The program provided funds for communities to purchase foreclosed on homes, do some minor renovation and then sell the homes to qualifying buyers.  All in an effort to stabilize neighborhoods.  Boone Mayor John Slight says the idea is alright, but the program hasn’t worked out to well for Boone.  The Council was able to use a big portion of the grant money to demolish and clean up fire damaged buildings in downtown Boone.  The balance of the money was used to purchase select homes, fix them up and then resell the properties.  Slight says the first issue were the repeated change orders for the renovation work.  After the work was completed, offers were received, but most didn’t qualify for the program.  Finally, Slight says the Council has received an offer for a property at 921 13th Street.  He says the problem is the City could end up loosing over $14,000 on the sale.  If the counter offer and other details are worked out, the Council could have a required Public Hearing to sell the home at their October 1st meeting.

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Boone Municipal, IA

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