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Scott County CDA outlines homebuyer, land‑trust and business programs to New Prague EDA
Summary
Scott County Community Development Agency presented a range of housing and business programs — homebuyer education with $5,000 down‑payment grants, a growing community land trust, acquisition‑rehab and new‑construction projects, a business accelerator and workforce training — and offered local partnership and funding resources.
Joe, representing the Scott County Community Development Agency, briefed the EDA on CDA programs that support homeownership and local businesses.
He said the CDA runs five annual eight‑hour homebuyer education sessions and provides HUD‑certified counseling; participants who meet income and first‑time buyer criteria are eligible for a $5,000 down‑payment assistance grant. The CDA also operates a community land trust started in 2001 that currently holds 20 homes and has additional units under construction; the CDA retains land while homeowners own structures.
Joe described multiple homeownership models: acquisition‑rehab units sold typically in the mid‑$200,000s for households at income limits tied to HUD guidelines, townhomes in the upper‑$100,000s, and new‑construction units in the $300,000–$320,000 range (with a roughly $500,000 build cost prior to land retention). He said the CDA has funding to continue building and acquire more homes and reported the program has not had an owner resell to date; the first potential resale could occur this year in New Prague.
On business support, the CDA has a business accelerator with 19 participants, an innovation lab and mentoring; the FastTrack pitch competition continues and the CDA reported access to roughly $2 million in outside capital and creation of 16 jobs among participating businesses. Workforce training partnerships include commercial‑driver and phlebotomy classes; the CDA said new legislative funding expanded eligibility for some programs.
Joe recommended the EDA and city keep CDA programs in mind as tools to support housing and workforce objectives and offered help with program details and funding applications. He also noted a county market study with city‑level deep dives is expected later this fall.
