Encyclopedia Dubuque
"Encyclopedia Dubuque is the online authority for all things Dubuque, written by the people who know the city best.”
Marshall Cohen—researcher and producer, CNN
Affiliated with the Local History Network of the State Historical Society of Iowa, and the Iowa Museum Association.
DREAMS
DREAMS. Innovative programs of the City of Dubuque to renovate once-abandoned and dilapidated houses and stabilize deteriorating neighborhoods. Starting in 1993, the City purchased rundown property which was then sold to low-to-moderate income residents and first-time buyers. Financing was secured through one of four lenders with the City often providing a long-term second mortgage.
Participants were required to take thirteen-week courses in finance, budgeting and rehabilitation of older homes and then live in the house for five years or pay a penalty. By 1996, investment in some of the city's oldest neighborhoods totaled $659,481. Of those involved in the program, eleven families had renovated houses increasing their assessed value by 300%. No family had defaulted on a loan.