Spencer Quality Housing Initiative Grant Program Begins
Housing grants available in the City of Spencer, IA.

SPENCER, IA, October 29, 2011 /24-7PressRelease/ -- The City of Spencer, Spencer Municipal Utilities, Clay County and Spencer financial institutions have come together and pledged funds for grants up to $15,000 for purchasers of new mid-range personal residences in the City of Spencer. Grants will be awarded and administered by the Spencer Area Jobs Trust.

There are several conditions to the grant. The grant will be in the amount of $12,500; an additional $2,500 is available if the applicant finances through a participating lender. Participating financial institutions include Farmers Trust & Savings Bank, Northwest Bank, Community State Bank, State Bank and US Bank.

Grants are only for the acquisition of a new, never occupied personal residence (single family, duplex, townhome or condominium) within the city limits of Spencer. The appraised value or actual cost of the home and land cannot be less than $110,000 or more than $180,000.

Grant commitments will be issued on a first come, first serve basis until funds are exhausted, 40 grants have been committed, or until September 1, 2014, whichever first occurs.

The complete rules and application can be found at www.lakescorridor.com/live/corridor-living/spencer-housing-initiative/. Hard copies are also available at the Iowa Lakes Corridor office, 520 2nd Avenue East, Spencer. Contact the Corridor for more information at 712-264-3474 .

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