Quincy holds Small Rental Rehab Program meeting for second round of funding

Published: Sep. 8, 2022 at 9:53 PM CDT
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QUINCY (WGEM) - If you want to help with the housing shortage in Quincy, you have another opportunity.

There’s a push to build new apartments or spruce up old ones west of 18th Street.

There was a meeting Thursday night about the second round of money available for the Small Rental Rehab Program. A dozen people attended.

The program offers a five-year, zero-interest loan to landlords and property owners looking to do major renovations on properties they will rent out. The loan covers 50% of construction costs up to $20,000 per unit.

“We know west of 18th Street we have about 1,800 vacant units,” said Quincy Planning Director Chuck Bevelheimer.

According to Bevelheimer, local employers say there is not enough housing for people looking move to Quincy.

“If we can improve the housing stock, make more housing available, then we have that we will have more people moving into Quincy,” Bevelheimer said.

The program has been going on since last year. In 2021, Bevelheimer said 10 out of 12 people who applied for the program got money for their renovations. It’s something Larry Brumbaugh said he is interested in doing too.

He was one of a dozen people who attended a meeting Thursday night to learn more about the program and owns property on 5th Street that he’s looking to build apartments on.

“I’m kind of interested in the city, getting involved in some new rental units and I have some property that would qualify,” Brumbaugh said.

While Brumbaugh is not sure if he will participate yet, he thinks the program is benefiting the city.

“Last year, you know they said they had twelve people and ten of them received financing so that’s making more housing available for the people of Quincy,” Brumbaugh said. “I guess rental units and stuff is hard to find.”

Bevelheimer said they can use a maximum of $250,000 for the program.

Anyone who is interested must submit their application by Oct. 31.

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