City Funded Programs For Real Estate Improvements – Jefferson City, Missouri

Lets chat free money, did you know that Jefferson City has city-funded programs available for residential, rental, and commercial improvements? Like most people who live and work in Jefferson City, we would like to see “old town” restored. We had the opportunity to attend a meeting with Jayme Abbott, Neighborhood Services Coordinator, last month to learn about the opportunities available to home buyers and investors interested in living and investing in “old town”. To view eligible areas please review this map. The city provides incentives through four different programs: Residential Incentive, Rental Façade Program, Commercial Façade, and Adaptive and Reuse Program.

The first available is the Residential Incentive Program which is only available to those who will be owner occupying the property. Qualifiers include a construction date of December 31st, 1959 or earlier, fair market value of no more than $150,000, vacant or rented for the past 180 days or more, property has not been previously assisted with the program in the past 10 years, does not have any delinquent tax liens, assessments, or other fees due to the city, and the property is a single family or duplex as long as owner lives in one side

If the property qualifies and you are approved, the city can do a dollar for dollar match up to $5,000 for the down payment as long as the application is submitted 30 days prior to closing. They can also offer an incentive to reimburse property tax up to $2,000 per year for five years. Requests must be submitted no later than June 30th each year. There are a few other qualifiers to be approved for one of these incentives, but if you are looking to purchase a home in “old town” Jefferson City this program is worth looking into.

The second city-funded program is the Rental Façade, perfect for investors. This application process is competitive, the goal of program is to improve exterior appearances and condition of rental properties and maintain historic integrity of the neighborhood. Any exterior improvements exceeding $10,000 may be eligible. Landlords can receive 50% in reimbursements ($5,000) with a max of 2 units. This program only applies to structures that are single family and structures constructed as a duplex. Eligible exterior improvements include cleaning/patching/painting façade walls, siding installation/repair, doors and windows, canopy/porch repair, mortar joint repair, railings/ironwork repair, gutters and downspouts, and replacement/repair or exterior steps.

The third program is the Commercial Façade. This program assists investors and developers in updating and restoring commercial buildings. Requests for this program must be submitted no later than June 30th each year to the city. Owners can receive up to $15,000 in efforts of improving any qualified commercial property. Other qualifiers include construction date December 31st, 1959 or earlier, fair market value of $40,000 or more, and the property cannot have any delinquent tax liens, assessments, or other fees due to the city.

Lastly, is the Adaptive Reuse Program. The Adaptive Reuse program is to enhance, encourage and support reinvestment in the City’s core. The purpose is to bring vacant buildings no longer usable for residential purposes and adapt the building for new uses while retaining historic features. Once again, the property must qualify and applications must be submitted no later than June 30th each year. To qualify, the construction date must be December 31st or earlier, vacant 180 days or more, located in one of the adopted neighborhood plans, fair market value of $40,000 or more, improvements meet Historic Preservation Commission guidelines, and the property does not have any delinquent taxes, liens, assessments, or other fees due to the city. Owners can receive a tax reimbursement incentive up to $2,000.00 per year for 2 years. Please read here for more information.
There are also two federally funded programs that can be used in conjunction with the city programs or independently through Missouri Housing Development Commission and Community Development Block Grants, which is provided through the City of Jefferson. For more information on these federal programs please see www.mhdc.com and www.jeffersoncitymo.gov.
For more information about any of these programs please contact Jayme Abbott with the City of Jefferson 573-634-6305 or visit their website.

Jefferson-City-Real-Estate-Capital-Investment-Realty-LLC-Central-East-Side

Photo courtesy of the Historical Society of Cole County. Artist Unknown

New Addition to JCMO

Hi there, and welcome to our blog! We are the Pantaleo’s, a couple of real estate investors passionate about investing and helping others find homes and build portfolios. We have personally been investing in real estate for the past ten years, and know the value of a top-notch property manager. Lindsey grew up in real estate, she is the daughter of the largest commercial broker in South Central Missouri. Her family owns and operates two locations in Missouri that manage over 2,000 residential and commercial units. Nick was quickly immersed into this world when he started dating Lindsey in high school. Together, the two have purchased and remodeled many properties together.

We see the need for a property management company, in the Jefferson City area, that seamlessly allows tenants to access their real estate needs online, or by their smartphone. Our business allows property owners 24-hour access to view their financial records, current maintenance requests, and share important documents. Balance sheets, income statements, and many other monthly reports are available for each property.
We Offer:
• 24 Hour Maintenance
• Online Listing with professional photos
• 3D Virtual Tours
• Online Tenant Application & Screening
• Tenant & Owner portal allowing 24 hour access
• Monthly Financial reports to property owners

We are not only passionate about helping investors build and grow their portfolios, we take great pride in helping people find homes. Our goal is to offer the best homes, townhouses, and apartments that the Jefferson City area has to offer. We are so excited to offer our tenants 24 hour maintenance.

Our office is located at 423 E High in Jefferson City. We are four blocks east of the Capitol. Currently, we are undergoing remodeling to our office and converting Unit B into a short term furnished rental that will be available for nightly, weekly, and monthly stays. The suite is full of charm offering 12 foot ceilings and original hardwood floors. It will be complete with a wet bar, washer/dryer, and breakfast vouchers to the best downtown restaurants. The building was built in the late 1800’s. With our close proximity to the Capitol and Downtown, we are hoping this will provide a nice alternate option to a hotel for lobbyists, professionals, and couples traveling through the area. More to come….

Thanks for following our journey, stay tuned as new properties will be featured on our website every month. We are seeking new management, if you or someone you know owns property, we would love to chat!

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