Summer 2015 Newsletter

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NFC EXPANDS LENDING AREA FOR FORGIVEABLE LOAN PROGRAM

Starting August 1, 2015

 

Homes in the Meredith, Watrous South, Waveland Woods & Westwood* neighborhoods can now qualify for the NFC Advantage Loan Program, designed to improve properties. The program offers forgivable loans of up to

$10,000 per property every 10 years to pay for property repairs and improvements.

NFC is a non-profit mortgage lender that allows forgivable funds to be provided with each loan for an owner-occupied property. NFC offers purchase, refinance and/or home improvement loans in our lending areas. The forgivable funds (up to $10,000 per property every 10 years) are used to improve or repair your home. With NFC, you have to borrow money to get the forgivable loan money.

For home improvement loans, the portion of the loan that is forgivable will range from 25% - 50% of the amount of the rehab depending on household income, up to a maximum of

$10,000 forgivable loan.

 

Once the NFC loan has closed the home improvement projects may begin.


 

 


 Meredith Neighborhood Association, who we are and what we do!
 
Meredith Neighborhood Association was formed early Spring 2000. Originally there was a plan to have one large North West Des Moines association but that plan was rejected and three neighborhood associations were formed: Meredith, Merle Hay, and Lower Beaver.

The first elected officers were dedicated “to becoming a positive force in the neighborhood. (Des Moines Register, Dana Boone, March 1, 2000). First on the list were to have stoplights at 50th and Douglas. Also, they wanted Westchester Park improved to be “a kids park.”

Since then the neighborhood association convinced the city to retain the four-way stop at 50th and Meredith Drive, worked with Hoover High School staff and school resource officer to discourage high school students from improper use of Westchester Park. Other changes were street lines on 50th street from Aurora to Twana so cars going around the curve stayed in lanes. Helped to reduce collisions.

The association sponsors National Night Out on the second Tuesday of August,

4th of July Kids Parade.  SCRUB (a way to unload trash, tires, appliances, etc.)held at Hoover High School, plant flowers on Palm and Bel-Aire islands and around the Westchester Park sign. Other volunteers coordinate a program where neighbors are also able to pick-up flowers to plant in their parking.

The list is long. Many good things have happened in the neighborhood. The best part has been the volunteer officers, committee members, those that come to meetings, and show up to help at events.

The Meredith Neighborhood Association is a volunteer organization. All planning and implementation of events are by volunteers. Funding is from memberships ($20), grants, and donations. Please support your association, volunteer to help, work on a committee, or serve as a board member. Check out the Spring 2015 Newsletter for a list of opportunities to help the neighborhood.

KEY POINTS OF NFC EXPANDED LENDING

Not applicable in other NFC Lending Areas

 

1.     Applications will be accepted starting August 1, 2015.

2.     $1.5 million is available through December 2015 in the Meredith, Watrous South, Waveland Woods & Westwood* neighborhoods. NFC will evaluate the continuation of the program for 2016.

3.     Only in the neighborhoods listed above will purchase and refinance loans will be limited to households below 80% of the area median income ($60,000 for a family of 4).

4.     There are no income limits for home improvement loans.

5.     Only in these neighborhoods, the assessed value of the property must be less than or equal to $200,000 for purchase, refinance and home improvement loans.

 

NOTES ON THE REHAB PROCESS

 

1.     The homeowner/borrower is responsible for selecting the contractor.

2.     NFC does not finance sweat equity (homeowners completing rehab themselves).

3.     The repairs/improvements are to be completed within 6 months of closing. NFC will hold the funds for the rehab and directly pay the contractors after your approval and inspections are complete. Payments to contractors are made twice a week, Tuesday and Friday after 4:00 pm.

 

For additional information, please visit our website at www.neighborhoodfinance.org or call 515-246-0010. 


If you are interested in one or more of the committees, please contact William (Bill) Schoenenberger, 276 8730 or wschoenenberger@gmail.com or president@meredithneighbors.org

November 10, 2015 Quarterly Meeting
 
Hoover High School Media Center
Social and speakers soon after 6:30, General Meeting 7:00
 
 
Start of the meeting:
Call to Order
Approve the agenda
Approve minutes from May 2015
Treasurer's Report
Recognize Guests
 
Stephanie Preusch | Executive Director
Neighborhood Finance Corporation
 
Beautification - Bel Aire, Palm, and Park flowers
Community Development
Calendar for 2015
Need for Neighborhood support
New Business
Adjourn 
 
 
 
 
 Non Emergency Reporting DMPD Dispatch 283-4811
 
Patrol services related issues, general police department contact.
SPO Chuck Guhl 554-9271 cwguhl@dmgov.org
Lt. Larry Davey 237-1531or C# 208-7790  
lddavey@dmgov.org
Traffic issues, speeding, parking
Officer Chris Mock 419-6627
cdmock@dmgov.org
Officer Tim Fricke 205-3165  
trfricke@dmgov.org
Narcotics activity, drug dealing, neighborhood contact.
Sgt. Dave Mulford  
dmmulford@dmgov.org
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 Letter from
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MNA History

The original 370 acre Meredith property was both a dairy and beef cattle farm.
Click here to read more on our history.
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Mailing Address:
Meredith Neighborhood Association - P.O. Box 31234 - Des Moines, IA 50310