Historic Preservation Revolving Loan Fund

How it works

The Historic Preservation Revolving Loan Fund provides financing for approved exterior improvements on eligible historic properties in Dubuque. The program is administered through the Historic Preservation Commission.

What the money covers

The page describes the loan as covering approved exterior improvements and links to an "Eligible Improvements" application resource, but the captured text does not list the specific eligible measures. It also notes that the property value used for underwriting will be based on the assessed value, or on the appraised value after improvements if the assessed value is not a good indicator.

Amounts and terms

• Loan amount: up to $25,000
• Interest rate: 3%
• Repayment term: 10 years
• Monthly principal and interest payments begin after project completion, but no later than six months after loan closing
• Limit of one loan outstanding per building
• Security is preferably at least a second mortgage position and promissory note, or an amount not to exceed 100% of loan-to-value

Timing and deadlines

• Work must be initiated within three months of Historic Preservation Commission approval
• Work must be completed within six months of Commission approval
• The Commission may grant additional time if needed

Application process

The page includes an "Application Process" section and references a design review application, but the captured text does not provide step-by-step filing instructions or a deadline date.

Notes for applicants

This is a financing program rather than a grant. The property must meet the age and location rules, and all work must be approved by the Historic Preservation Commission before the project timeline begins.