City of Iowa City Agenda Formal Agenda 2026-06-16
City Sells Summit Street Property to Affordable Housing Nonprofit
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Description
The City of Iowa City approved a $750,000 purchase agreement to sell 1002–1006 North Summit Street to Iowa City Affordable Housing Inc. ICAH will develop 36 multifamily units for households below 50% of area median income and assume obligations from a prior loan agreement tied to the property.
Contract Details
Contract Amount
$750,000
Vendor
IOWA CITY AFFORDABLE HOUSING INC (ICAH)
Agency
City of Iowa, IA
Contract Type
FACILITIES
Document Date
June 16, 2026
Renewal Info
One-time property conveyance and assignment of obligations under a prior loan agreement; long-term management responsibilities shift to ICAH.
More from IOWA CITY AFFORDABLE HOUSING INC (ICAH)
Related Contracts
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City of Iowa City Council Information Packet 2026-06-25
Iowa City City Council Formal Agenda 2026-06-16
Iowa City City Council Formal Agenda 2026-06-16
Iowa City City Council Formal Agenda 2026-06-16
Iowa City City Council Formal Agenda 2026-06-16
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