HomeMy WebLinkAboutFY23 GRIP Brochure
GENERAL REHAB AND IMPROVEMENT PROGRAM
Are you thinking of remodeling your home, but are
not sure where to start? Let the City of Iowa City’s
General Rehabilitation and Improvement Program
(GRIP) assist you! The experienced staff in the
Housing Rehabilitation Office can help you with
remodeling ideas, contractor selection, and project
oversight to ensure you are getting what you pay
for. Qualified homeowners are eligible to do
improvement projects from $10,000 to $40,000.
The loans, secured through the City of Iowa City at
a very competitive rate (2.75%), are repayable over
20 years, making it possible to do the remodeling
you have dreamed about.
An example of monthly minimum payments for a
2.75% interest loan is as follows:
Loan Amount GRIP Payment Typical Home
Equity payment
$10,000 $54.22
(20 yr)
$181.92 (5 yr)
$30,000 $162.65
(20 yr)
$545.75 (5 yr)
Applicant Eligibility
Applicants must live within the Iowa City’s city
limits and the home must be single-family, owner-
occupied. There must be enough equity in the
home to secure a loan.
All applicants must meet income requirements
which are as follows:
Household Size Maximum Income
1 person $83,930
2 persons $95,920
3 persons $107,910
4 persons $119,900
5 persons $129,580
6 persons $139,150
7 persons $148,720
8+ persons $158,290
Eligible Improvement Projects
♦ Additions or renovations
♦ Finish a basement
♦ Installation of central air or upgrade furnace
♦ Kitchen and bath renovations
♦ Windows and doors
♦ Updating of plumbing and electrical systems
♦ Accessibility improvements
♦ Painting and siding
♦ Historic Preservation
♦ Many other items!
To Apply
Filling out an application for assistance is simple
and well worth your time. Applications are available
at the Housing Rehabilitation Office in the Planning
and Community Development Department, (8 am –
5 pm). The number of projects GRIP can fund is
limited, so the funds will be awarded on a first-
come, first-served basis, as applications are
received.
Contact:
Neighborhood and Development Services
City Hall, 2nd Floor
410 E. Washington Street
Iowa City, IA 52240
www.icgov.org - enter “housing rehab” in search button
Liz Osborne 356-5246
liz-osborne@iowa-city.org