Washington Neighborhood Homeownership Program Status Report Copyrighted
June 4, 2018
City of Dubuque Consent Items # 4.
ITEM TITLE: Washington Neighborhood Homeownership Program
Status Report
SUMMARY: City Manager transmitting the status report for the
Washington Neighborhood Homeownership Program from
Community Housing Initiatives (CHI).
SUGGESTED DISPOSITION: Suggested Disposition: Receive and File
ATTACHMENTS:
Description Type
Washington Neighborhood Homeownership Program Supporting Documentation
Status Report
Old House Enthusiasts 31st Annual House Tour Supporting Documentation
Brochure
10 April 2018
To: Mike Van Milligen, City Manager
From: David Harris, Community Housing Initiatives
Re: Status Report—Washington Neighborhood Homeownership Program
CHI purchased its first property in March 2013. Since that time, 30 properties have been acquired, with
rehabilitation completed on 21.This includes construction of a new home on a lot donated to CHI by the
City. 20 homes have been sold to-date, with one currently for sale. Construction is under way on nine
properties, with one scheduled for closing this month.
Total CHI expenditures to-date exceed $2 200 000. Using data on homes sold through calendar year
2017, we have averaged about$30 000 in purchase costs and $84 000 in rehab costs on each home.
Average sale price on our completed homes is$96 000. The City's $25 000/house subsidy—totaling
$400 000 to-date—helps to reduce those losses. Adding realtor commissions,taxes, utilities, insurance
and administrative costs results in a per-home deficit of about$11000.
In our September 2015 report to the Council, we reported average per-home costs of$107 000 and sale
prices at$91 000. Comparison up-dated figures are $124 000 and $96 000, respectively, with the
significant difference being an increase in rehab costs.
We continue to see high demand for CHI homes, with several having been "pre-sold" before
construction was completed. This results in part from referrals from previous CHI buyers, who are
recruiting their friends to live in the Washington Neighborhood. All recent (since 2015) buyers are
younger people, both singles and couples. A sense of community is being established, as more people
realize the benefits of home ownership in a walkable, historic urban neighborhood, close to new
amenities developing in the area. These include restaurants, coffee shops, brew pubs and the "vibe"
coming from the adjacent Millwork District.
CHI is developing partnerships with several community-based organizations working to improve
conditions in the Washington Neighborhood. The Community Foundation's new community
engagement project will be providing volunteers to do landscaping improvements on CHI properties, in
conjunction with ISU-Extension's master gardener program. CHI will co-sponsor, in partnership with the
Old House Enthusiasts club and Heritage Works, a tour of six of our homes in the Washington
Neighborhood on May 19. Our relationship with the HEART Program continues,with five homes
completed to-date with student labor. And a CHI property now in construction has received an historic
preservation award from the Dubuque County Preservation Commission and the County Historical
Society.
I again wish to express CHI's appreciation to the City Manager's office,the Housing and Community
Development Department and the Council for the continued support of our efforts to promote
homeownership in the Washington Neighborhood.
cc: Doug LaBounty, CEO, Community Housing Initiatives
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