A “no go” today in Waterloo

As you may know, Iowa Department of Economic Development director Mike Tramontina resigned abruptly late Friday as problems with the Iowa Film Office came to light. Erin Seidler, a spokeswoman for the Iowa Department of Economic Development, sent an advisory Sunday afternoon, saying a news conference in Waterloo scheduled for Monday which was to feature Tramontina will be “rescheduled.” Here’s the Seidler’s Sunday email:

Press Conference on Single Family New Construction Program in Waterloo To Be Rescheduled

WATERLOO, IA (September 20, 2009) – The press conference to be held on Monday, September 21st on the Single Family New Construction Program in Waterloo will be rescheduled. The date of the press conference has yet to be determined.

So what was the event that was cancelled? Read about it below (again, it will be rescheduled and will NOT happen Monday).

Single Family New Construction Program Builds New Houses to Replace Flood-Damaged Homes

WATERLOO, IA (September 17, 2009) – Officials with the City of Waterloo, Iowa Department of Economic Development (IDED) and Rebuild Iowa Office (RIO) will announce plans to construct new housing at a press conference in the Summerland neighborhood on Monday, September 21. The Single Family New Construction Program was created earlier this year to build affordable replacement housing units to replace those housing units damaged during the flood.

This program will help fund the construction of 22 new housing units, including 20 single family homes and two condominiums, in 2009. Two local builders and developers participated in the program. The combined total for all of these construction projects is $4 million.

WHO: Waterloo Mayor Tim Hurley, RIO Executive Director Lt. Gen. Ron Dardis, IDED Director Mike Tramontina, Builders Jason Guthrie and John Rooff, City Councilman At-Large Bob Greenwood

WHAT: Press conference to announce Single Family New Construction Program

WHERE: Summerland Neighborhood,  5538 Summerland Dr., Waterloo, IA

RAIN LOCATION: Council Chambers, Waterloo City Hall, 715 Mulberry Street, Waterloo, IA

PROGRAM DETAILS:

Through the Single Family New Construction Program, eligible property owners are offered assistance up to 30% of the purchase price for down payment and closing costs of a new housing unit built for less than $180,000. This program is providing a total subsidy of $1.256 million for the 22 housing units. Construction has already begun on most of these properties.

Qualified applicants must be at or below 100% of Area Median Income by household size established by Housing and Urban Development (HUD). All assisted homebuyers must be able to support a mortgage as evidenced by a firm loan commitment and must maintain the property as their primary residence for five years. Assistance from this program cannot be combined with the Federal Jumpstart Homebuyer Assistance or State Jumpstart Down Payment Assistance programs for the same house or owner.

Houses eligible for this program must be located within the corporate limits of Waterloo and cannot be located in the 100-year floodplain. Properties must be single family dwellings, single family unit condominiums or modular homes on permanent foundations. The housing units must be built by an approved builder and cannot exceed $180,000.