732 Gaines Street Davenport, IA 52802
Uniting community
resources of volunteer service, professional expertise,
and financial assets to save abandoned buildings in our
neighborhood.
Rehabilitation of
820 W 6th Street
Click here for complete set of photos
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820 Rehabilitation
Plan
GRG would take title to
the property.
GRG
would establish an 820 Rehabilitation Fund of $40,000 consisting
of $5,000 from GRG and $35,000 from Wells Fargo.
GRG would maintain the property
until a qualified person
could be found to rehabilitate the property.
If,
in the unlikely case a qualified person cannot be found,
GRG would take on the project as Developer/General Contractor
and complete the project as outlined below.
GRG’s
Architectural Rescue Shop will make its stock of salvaged
architectural items available at no charge to the rehabilitator.
The
rehabilitator would be reimbursed $40,000 from the 820 Rehabilitation
Fund for all the rehabilitation at a rate of two dollars
for of every three dollars spent.
Rehabilitator
selection will be similar to the process used for 406 West
8th St.
The
rehabilitator must agree to:
Purchase property from GRG for $5,000.
Spend at least $60,000 in
rehabilitation costs including landscaping and site development.
Rehab the house per
Davenport city code to make it habitable within one year
of taking possession of the property.
GRG reviewing and
approving their rehab plan and establishing checkpoints
for payment of matching funds.
Obtain HPC approval
for all exterior work requiring permits, including but not
limited to changes to exterior doors, roofing, windows,
and changes to exterior materials or design.
Have all required
city building permits and inspections for all work being
performed.
Complete interior work, trim, finish flooring, and other
interior finishes in a professional and workmanlike manner.
GRG would:
Review and approve all rehab plans.
Reimburse rehabilitation expenses based on invoices for
pre-approved check points.
Hold a $40,000 lien on the property, which would be forgivable
after 5 years from the date of purchase if the following
conditions are met:
The house
remains single family occupancy.
The property
is maintained according to Davenport city code.
Home
owners insurance for the property is maintained.
The
property is kept free of all delinquent taxes or liens.
The lien is transferable
if the property is sold before the end of the 5 years as
long as the original lien conditions are met.
