Homeowner Renovation Program

Homeowner Renovation Program is sponsored by Invest DSM (Des Moines, Iowa). This program offers grants to homeowners for internal and external maintenance and improvements, including large-scale renovations. The grant covers between 20% and 50% of costs, based on the project and neighborhood location.

Homeowner Renovation Program | Invest DSM | Des Moines, Iowa Homeowner Renovation Program Get the home of your dreams without leaving your neighborhood with this matching grant for small updates or large-scale renovation projects. You can admit it: You’ve been dreaming about how to improve your house for years.

But rising costs for routine maintenance may have held you back from making larger updates that would enhance your quality of life. This is your chance to transform your current house into your dream home. Grant Amount: Up to $75,000* No income or credit requirements to qualify.

Covers internal and external maintenance and improvements, including large-scale renovation. ** The grant covers between 20% and 50% of your costs, based on your project and neighborhood location. Grants are fully forgiven within five or seven years if you stay in your home.

(If you move early, you’ll receive a prorated amount). Smaller grants are reimbursed immediately after work is complete, with no forgiveness period required. *Program guidelines vary by neighborhood.

**All projects must include an exterior component. Dream big! Take on any size renovation you want!

Make your house more comfortable and livable for your family with modern updates and amenities. Get the repairs and maintenance you’ve been stressing about taken care of. Get ideas from our specialists about how to improve your home.

Enjoy freedom and flexibility in choosing your personal project. Receive one-on-one consultation, advice, and technical support from our specialists throughout the entire project. Overcome the gap between what updates would cost and your increased home value after the project.

Complete updates you wouldn’t be able to afford without Invest DSM. The application process takes approximately 20–25 business days to complete, depending on your schedule. Any work done or paid for (including materials purchased) before you complete the application process will NOT be eligible for Invest DSM funding.

TELL US YOU’RE INTERESTED Fill out our five-question initial interest form. Schedule a phone (or video) call with our team. Our team will send an email link to schedule a call with a construction specialist.

Your specialist will review the program details with you, answer questions about your project(s), and email you a link to schedule a home inspection. During your home inspection, your specialist will inspect the property with you, including the roof and all mechanical systems. After the inspection, you can request bids from contractors for the work discussed.

Send all final bids to your construction specialist. Your specialist will create and send a Scope of Work document outlining your project(s) and the amount of grant funding that Invest DSM will contribute toward each within 5–7 business days after receiving all of your bids. Review and sign the Scope of Work document.

Complete and submit the Official Application. * Provide proof of funds for your share of the project(s). (Bank statement, EHLPC, loan balance, etc.) *The review process takes a minimum of 3–5 business days.

Once your documents have been approved, our team will email a draft of your Grant Agreement, and a link to schedule a time to sign your final grant paperwork at the Invest DSM office. COMPLETE YOUR PROJECT(S)! Purchase your materials, schedule your contractor(s), and complete your project(s).

As each stage of the project is finished, submit a reimbursement request form — along with eligible receipts and invoices. Get an inspection of the completed work from your construction specialist. Receive your reimbursement check within six weeks.

CHECK YOUR PROPERTY’S ELIGIBILITY To be eligible for the Homeowner Renovation program, you must: Live within a Special Investment District. Enter your street address in the search fields below. If the property falls within one of the colored blocks on the map — or on either side of a boundary street — it’s within a district.

Own or occupy the property. Be current on your property taxes. Use materials that meet design and construction standards to ensure long-term quality.

Submit an application and receive approval from Invest DSM before you begin work. Note: Double click over map area to zoom in. The staff was always timely and worked with my schedule.

Even when I was a day early for document signing, they fit me in. ” Homeowner, Oak Park / Highland Park, Homeowner Renovation Program The staff want to get to ‘Yes. ’ They understand that the program needs to be flexible.

It was a great experience. ” Homeowner, Franklin Area SID, Homeowner Renovation Program Because of Invest DSM, we were able to afford critical repairs to our home, and beautify the exterior. The house now feels like our home.

We have less on-going stress looming over us that was being caused by home repairs that were needed. ” Homeowner, Columbus Park SID, Homeowner Renovation Program Everything was amazing, from the staff to the explanation of the program to the final execution of receiving the benefit. The program has made it possible to truly transform my home into what it deserves to be.

” Homeowner, Oak Park / Highland Park, Homeowner Renovation Program Because Invest DSM invested in our home, we have put a considerable amount of money into projects that otherwise would not have been done. We were looking to move, but we decided to reinvest in our home and make it what we want. ” Leslie & Jeff Berckes, Franklin Area SID, Homeowner Renovation Program Invest DSM saved me quite a bit of money.

I would not have done many of the projects if it weren’t for the program. ” Homeowner, Oak Park / Highland Park, Homeowner Renovation Program Invest DSM allowed our family to remain in a neighborhood that we love for years to come. ” Homeowner, Franklin Area SID, Homeowner Renovation Program This program helps keep our older neighborhoods from falling into disrepair.

I’m thrilled a lot of my neighbors have taken advantage of the program. The look of the neighborhood has definitely improved. ” Homeowner, Franklin Area SID, Homeowner Renovation Program This program is well run and generous to the homeowner.

I can’t imagine it any better… I can’t say enough good things! ” Homeowner, Franklin Area SID, Homeowner Renovation Program Five stars are not enough to describe my experience. From the application to the final inspection, the process was simple, efficient, and easy to navigate.

” Homeowner, Franklin Area SID, Homeowner Renovation Program The Homeowner Renovation Program is easy, straightforward, and helped push us to make needed renovations. ” Homeowner, Drake SID, Homeowner Renovation Program Renovations can be really intimidating. Invest DSM makes it really easy for you to feel supported.

They want you to be happy with what you choose to do with your home. ” Stephanie Brennan, Drake SID, Block Challenge Grant Program, Homeowner Renovation Program Invest DSM comes from the perspective of homeowners, versus large businesses. The program helps those of us who want that community while still being close to downtown.

” Carrie Moreno, Columbus Park SID, Homeowner Renovation Program I’m excited that I can have people at the house now. I’m not embarrassed by those rooms anymore.

” Del Brink, Columbus Park SID, Homeowner Renovation Program The purpose of this Homeowner Renovation Program (this “Program”) is to provide financial incentives that encourage homeowners within designated investment districts established by the City of Des Moines or other governmental units located within Polk County, Iowa (each a “Special Investment District” and together, the “Special Investment Districts”) to invest in upgrades to their homes.

To create financial incentives for existing homeowners who want to do high-quality upgrades to their property in order to increase the property and neighborhood’s value and improve their desirability. To focus on funding renovation projects that: Make permanent improvements that add value to the home and neighborhood. Include a high level of quality in design, construction, and materials.

Modify the home to improve floor plan functionality. Provide modern amenities that are uncommon in older urban neighborhoods. Address needed building code upgrades or deferred maintenance.

Inspire other homeowners to feel confident about investing in their homes. Properties must be within an active Special Investment District actively served by Invest DSM. Property must be a residential property and classified as such on the Polk County Assessor’s Applicant must be the owner of record for the property.

Applicant must provide satisfactory evidence of the applicant’s ownership, which may include reviewing the ownership records on the Polk County Assessor’s website. Unless waived by Invest DSM, the property must not be used as a residential rental property. If the applicant is a natural person, the property must be the applicant’s primary residence.

Applicant must provide satisfactory evidence of the applicant’s primary residence to Invest DSM, which may include receiving the Homestead Credit on the Polk County Assessor’s website or other documentation (such as an Iowa Driver’s License, a utility bill from the past 30 days, the most recent tax statement, etc.).

If the applicant is not a natural person, the applicant will need to disclose the type of applicant that it is (business entity, trust, organization, etc.) and who occupies the property. The property must be occupied by a natural person who is related to the applicant and such natural person must use the property as the natural person’s primary residence.

Invest DSM, in its sole discretion, will determine whether an applicant meets this requirement. Property taxes for any property owned by the Applicant in Polk County must be current or suspended. Invest DSM, in its sole discretion, may waive this requirement if property taxes are deferred for COVID 19 or medical reasons upon receiving evidence of such deferral.

Properties with substantial liens, judgments or other title defects or encumbrances may not be eligible to receive funds. Invest DSM staff may request a title opinion or other documentations from an approved attorney to verify that none of these items are present. Projects must be sympathetic to the nature of the neighborhood and align with the Special Investment District Plan for the area.

Unless waived by Invest DSM, all projects must contain at least one exterior component to the property. A complete application must be submitted and approved by Invest DSM prior to any work being done. Projects must include at least a 10% contingency to be held as a reserve for unforeseen costs for the project.

This contingency shall be included in the scope of work as part of the total project cost. An applicant must be able to adequately finance their portion of the project and provide proof of funds to Invest DSM. Invest DSM, in its sole discretion, will determine whether the applicant has submitted satisfactory proof of funds.

While other projects may be eligible for investment, it is important to give priority to the projects found within the Priority Projects section of this document. Invest DSM’s investment in a project is not tied to a specific item or linked to a certain dollar amount.

Rather, Invest DSM’s investment under this Program is calculated based on a percentage of total project costs that are for eligible costs (the “Total Eligible Project Costs”). “Eligible Costs” are costs for the project that are not Ineligible Costs and approved by Invest DSM, in its sole discretion. Eligible Costs will be designated as eligible costs on the Scope of Work.

See the Ineligible Costs section for items that are not eligible to be included in the Total Eligible Project Costs. Costs for the following items may be included in any project.

However, the following items will be deemed “Ineligible Costs” if the following items are collectively, as determined by Invest DSM in its sole discretion, the majority of the total project costs: Stand-alone HVAC or other mechanical systems Stand-alone interior painting projects Stand-alone appliance purchases, no washers and dryers (Appliances must stay with the home) The following items are Ineligible Costs that will not be funded in any portion by Invest DSM: Front Porch removal without replacement Open decks on the front of the house While all eligible projects will be considered, certain project types are preferred and may receive a higher level of priority for funding from Invest DSM.

The program is intended to be flexible, and Invest DSM can prioritize projects in any manner that it deems appropriate. The following is list of some preferred projects, but this is not a complete list. Other projects may be preferred, as determined by Invest DSM, in its sole discretion.

Exterior Preferred Projects (ALL projects must include an exterior component, unless expressly waived by Invest DSM staff): Front porch repair or restoration Windows and window treatments Fencing cleanup/replacement/removal Replacement of driveway, front walkway, service walkways Interior Preferred Projects: Addition of another half or full bath (especially if home only has one) Additional bedrooms or living area Home additions will be considered, particularly to add bedrooms and bathrooms.

Additional design review will be required. Add or rehabilitate garage, particularly where such projects address specific concerns (dilapidation, exterior storage, obsolescence) PERFORMANCE, PROJECT AND CONSTRUCTION STANDARDS Invest DSM seeks to invest in projects that set a new standard for quality in design and construction for the neighborhood.

All projects are expected to follow the applicable requirements in Invest DSM Design & Construction Standards .

In exchange for receiving funds from Invest DSM, the applicant will enter into a Funding Agreement (as defined below) with Invest DSM that will outline the terms and conditions of the funds provided pursuant to this Program, including the amount of the grant(s), the grant period, the default terms and whether a Refundable Grant (defined below) will also be provided.

Tier 1, Tier 2, and Tier 3 Projects – Grants Projects that are identified as Tier 1 or Tier 2 or Tier 3 projects in Appendix A receive one financial incentive from Invest DSM. Invest DSM will provide a grant (the “Grant”) to the applicant in an amount that is calculated as a percentage of the Total Eligible Project Costs (the “Grant Amount”).

As a condition to the Grant, the Applicant must either continue to own the property for the specified grant period (or receive a waiver from Invest DSM), and otherwise meet the conditions specified in the Funding Agreements.

If the Applicant conveys the property prior to the end of the specified grant period or does not otherwise comply with the agreed upon provisions in the Funding Agreements, then, the Applicant must refund Invest DSM, in one lump sum, a prorated share (calculated on a monthly prorated basis) of the Grant Amount (“Grant Default Payment”).

Invest DSM intends the Grant to be consistent with and in furtherance of its tax-exempt purposes, and as such, the receipt of the Grant Amount should not be taxable income to the recipient. Subject to compliance with this Program’s requirements, grant periods are summarized in the chart below. Grant periods are based on project scope and costs, ranging from modest to substantial renovations.

Invest DSM may fund only a portion of its eligible investment percentages, in its sole discretion.

Further, to the extent that (a) any Applicant receives a forgivable loan from Neighborhood Finance Corporation (“NFC”) towards any costs of this Project (at any point), Invest DSM’s Grant will be applied towards payment of that forgivable loan first, with any remaining balance applied towards the principal of the primary loan from NFC, or (b) any Applicant receives a forgivable loan or grant from another third-party funding source towards the costs of this Project (at any point), the forgivable loan amount or grant amount received will be deducted from the Grant Amount that Invest DSM would typically fund if an Applicant was not receiving a forgivable loan or grant from another third-party.

Applicants will be required to disclose any and all third-party funding sources, including without limitation that of NFC, as a condition to receipt of the Grant. Notwithstanding anything herein to the contrary, Invest DSM shall have no obligation to provide a Grant or Refundable Grant.

Invest DSM’s obligation to fund these grants are subject to ongoing funding of this Program and receipt of funds from Polk County and the City of Des Moines, pursuant to that certain Chapter 28E Agreement by and between Polk County, Iowa, the City of Des Moines, Iowa, and Invest DSM, Inc., For Funding and Operation of Invest DSM, Inc., dated August 19, 2019 (as amended from time to time, the “28E Agreement”).

Invest DSM shall only use funds permitted for disbursement under this Program to the extent provided under, and subject to the limitations in, the 28E Agreement. Invest DSM has the right to suspend this Program and obligations thereunder, including with respect to approved applications, if Invest DSM no longer has funding sufficient to operate this Program or the 28E Agreement terminates.

Invest DSM will notify applicants promptly upon any suspension of this Program. Homeowners may participate in the Homeowner Renovation Program multiple times. For Tier 2 and Tier 3 projects, Invest DSM will record the Real Estate Mortgage with the Polk County Recorder once it has been signed by the homeowner.

In the event that a homeowner refinances their primary mortgage or takes out another loan during the forgiveness period for Invest DSM’s grant, upon the homeowner’s request, Invest DSM will likely subordinate its Real Estate Mortgage to the new mortgage.

Invest DSM will track the forgiveness periods for each recorded Real Estate Mortgage and will record a Mortgage Release with the Polk County Recorder for those Real Estate Mortgages with expired terms on a quarterly basis. Do grant funds need to be paid back? Tier 1 grants are not required to be paid back.

Other grants may feature a five- to seven-year forgiveness period. During this period, grants only need to be paid back on a prorated basis if a homeowner sells or moves out of the home. How does this program support affordability for existing residents in the Special Investment Districts?

According to the Des Moines Citywide Housing Strategy (July 2025), there is a growing gap between renovation costs and market values. Invest DSM funds aim to assist with rising renovation costs to prevent resident displacement while fostering community development. Are there income or credit restrictions?

No, Invest DSM does not pull credit scores and there is no minimum or maximum income requirement. When do I get the grant funds? Invest DSM grants are reimbursement based.

This means proof of payment and work completed must be provided before grant funds are disbursed. An inspection is required prior to payout. QUESTIONS ABOUT THE APPLICATION PROCESS?