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Notice of Funding Availability:

As you know, hardships from the COVID-19 pandemic continue to be felt across the economy.  Currently there are well over 300,000 FHA borrowers nationwide who are at least 90-days delinquent on their mortgage and in danger of losing their home to foreclosure. In Iowa, there are 2,542 families in delinquency with FHA loans. To assist FHA borrowers with keeping their homes in Iowa, HUD is asking for your assistance to communicate an available COVID-19 forbearance option to delinquent borrowers.

This relief will only be available until June 30, 2021.  This toolkit can be used to provide struggling FHA homeowners that have delinquent loans with effective information to possibly prevent them from losing their homes.



In response to the Coronavirus Pandemic (COVID-19) the U.S. Department of Housing and Urban Development Community Development Block Grant (CDBG) has notified the City of Waterloo that it will receive a third round allocation of $344,732 to be used to prevent, prepare for, and respond to the Coronavirus (COVID-19). This allocation was authorized by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), Public Law 116-136, which was signed by President Trump on March 27, 2020, to respond to the growing effects of this historic public health crisis.

$275,786 will be available for eligible activities meeting a national objective and be used to prepare for, prevent or respond to the coronavirus disease 2019 (COVID-19). At this time, applications will be taken from Non-Profit Public Service Agencies providing assistance to prepare for, prevent or respond to Coronavirus (COVID-19).

Please see the national objective criteria listed below:

NON PROFIT PUBLIC SERVICE AGENCIES

(Must meet one of the following criteria)

  • Benefit Low to Moderate Income (LMI) Persons; To qualify for funding under the LMI category, the persons or households served must have income levels at or below 80% of the area median income (AMI). An activity must meet one of two subcategories which are:
    • LMA Area Benefit Activities (service is available to all residents in a defined service area in which 51% are LMI)
    • LMC Limited Clientele Activities ( Service will be used by a specific group of people who are at least 51% LMI)
  • Prevent or Eliminate Slum and Blight: To qualify for funding under this category activities under the objective are either
    • Low/Moderate Income Area Benefit-clearly eliminating objectively determinable signs of slums or blight in a designated slum or blighted area.
  • Urgent Need: The public service is designed to alleviate existing conditions that pose a serious and immediate threat to the health and welfare of the community, they are of recent origin or recently became urgent, and the agency is unable to find other available funds to support the activity.

 Applications were due March 2, 2021 at 4 PM.

If you have received prior CARES Act funding you may express interest in additional funding by contacting the Waterloo Community Development office at 319-291-4429 or by emailing Anita.merfeld@waterloo-ia.org for details.



ARE YOU LOOKING TO PURCHASE A HOME?

The City of Waterloo Community Development has designed the Homebuyer Assistance  Program to help low to moderate-income eligible households with  homebuyer  and closing cost assistance to purchase their first home.

  • Waterloo Community Development  will provide up to a maximum of $10,000 in Homebuyer Assistance after seller concessions and lender credits.
  • Funds are available on a first come, first served basis.  The assistance is in the form of a 0% interest deferred forgivable loan.
  • To participate , the borrower is required to provide a minimum contribution of $1,000 towards the purchase price of the home.
  • Escrow funds, professional inspections, and other items paid outside of closing by borrower may count towards the borrowers minimum contribution.
  • To learn more, print an application here
DOES YOUR HOME HAVE OLD DOORS, WINDOWS, PAINT AND SIDING?
Lead Grant AdThe City of Waterloo Community Development Lead Hazard Control Grant completes improvements to your home to remove lead based paint. Both owner-occupied and rental homes can participate  

  • Your home must have been built before 1978
  • You must have a child that is less than 5 years of age either living in the home or who visits the home
  • You must be income eligible

Programs Available with Covid-19 Funding


For more information contact Rudy Jones, Waterloo Community Development Director at: 


Waterloo Community Development Office
620 Mulberry St, Suite 202 
Waterloo, IA 50703 
Phone: (319) 291-4429 
Fax: (319) 291-4431
Email: rudy.jones@waterloo-ia.org


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