City Council approves considering UniverCity sales

BY DI STAFF | JULY 13, 2011 7:20 AM

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The Iowa City City Council, on a 7-0 vote Tuesday night, decided to consider a proposal to sell two single-family homes in Iowa City.

Under a grant for the UniverCity Neighborhood Partnership Program, the city plans to sell residences at 519 N. Johnson St. for $170,000 and 904 Bowery for $115,000.

All sales include the “carrying costs” to maintain them.

The program is a collaboration between the University of Iowa and the city “to encourage home ownership and reinvestment in designated neighborhoods surrounding the university,” according to city officials.

The sale would provide affordable housing in the University of Iowa area.

A $1.25 million grant allows the partnership to buy and restore 25 units in the area. Each residence is allotted $50,000 in grant money.

There will be a public hearing on Aug. 2 to approve the sale.

—by Chastity Dillard

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