The City of Davenport plans to hold a public hearing later this month about the possible sale of The Heritage, a high-rise it owns with 120 apartments at 501 West Third Street.
Bruce Berger, Director of Community and Economic Development, says the US Department of Housing and Urban Development has changed some public ownership rules. So, Davenport solicited letters of interest from companies that might want to buy The Heritage. And one called Foundation Housing is at the top of the city's list. It has already completed the purchase of a similar property in Waterloo, Iowa.
The Heritage is more than 40 years old and due for renovations. Berger says city officials have already met with tenants to tell them about the possible sale. The city would continue to offer vouchers to people who meet income guidelines, along with other housing programs.
The Davenport City Council has set aside time on October 21st for a public hearing about selling The Heritage, and Berger says aldermen could vote on it before the end of the month.
The city is also exploring the sale of its single-family homes and duplexes, possibly to local nonprofit agencies or property management companies.