(SIOUX CITY, IA) A year ago the Moos Meadows Development was an empty lot on the North side of Sioux City.
Lowell Elementary once occupied the space. Now the lot is apart of the federally funded Neighborhood Stabilization Program and four new homes are ready to be sold.
This house is getting the finishing touches. It's one of four new homes in the Moos Meadows Development which is part of the Neighborhood Stabilization Program.
"The purpose of the NSP funds was to help with the foreclosure crisis and one of the things that we did to try and help with that was this was an old school site so we were able to fund the developer to add these 9 houses," says Amy Keairns, Neighborhood Services Coordinator for Sioux City.
The federal government gives out NSP to all 50 states and then the state gets to decide which cities get the money.
In both 2008 and 2010, Sioux City received $1 million to help get these homes up and running.
Sam Moos is the developer.
"I went down and met the City and they had me put a proposal together and purchased the land from the Sioux City Schools where the old school, where this used to be an old school and kind of went from there," says Moos.
9 houses later Sam is proud of the work that's been done.
The development is designed for middle income families. They have to qualify for a 30-year fixed mortgage with a minimum loan of $100,000. The homes in Moos Meadows will sell for less than what it costs to build them - that's where the NSP funds kick in.
Basically the home-owners pay what they can to afford the house and then the federal government picks up the rest of the building costs.
And these homes are environmentally friendly - from Concrete siding, which is more durable than vinyl, to a radon detection system and high-efficiency light bulbs. The list goes on.
There are still four left to be sold, so id you're interested or you just want to see if you qualify call Amy Keairns at 712-279-6255 or visit www.sioux-city.org/neighborhood-services/1262-1620-ingleside-avenue
The homes are at 27th street and Chambers and for the first 10 years all four of them will be tax exempt.