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Housing trust has zero default

January 25, 2013
By Michael Tidemann - Staff Writer , Estherville Daily News

Northwest Iowa Housing Trust fund board members heard at their board meeting Thursday that the fund has had zero default on loans since its inception.

Carol Keizer, planner with Northwest Iowa Planning & Development Commission which administers the trust, said all homeowners are current with the agreements they have in place.

In another matter, Keizer noted that Buena Vista and Sioux counties are struggling to close out their remaining 2011 funds which must be spent before 2013 money can be released to any of the trust's member counties.

"That's getting to be somewhat critical," said Keizer.

Keizer did say that counties could buy back match dollars - pending board approval. She said those dollars would still have to be spent to close out 2011, noting that the money would have to be as grants and not loans.

Keizer said the state had also suggested giving grants to other agencies.

"We'd rather help the people we know who have a need in our own region," Keizer said. "If we can't get rid of it, we have to find a way to get rid of it in other counties in our region."

Board member Justin Yarosevich from Storm Lake said he will contact the Habitat for Humanity board there to see if the trust could award them grants.

Keizer said two, $15,000 grants would be an option. "The state doesn't care," she said of awarding the grants.

The board also approved a loan list. Keizer said the trust received $271,707 in 2013 funding.

Keizer also noted that 2013 county matches were due.

The trust administers grants and low-interest loans to persons meeting income and credit guidelines.

For information about qualifications for loan and grants, contact or call Keizer at (800) 798-7224 Ext. 140.



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