Ascentra Credit Union Donates $25,000 to Help Rejuvenate Davenport Home
Ascentra Credit Union contributed $25,000 to Rejuvenate Housing, Inc. for the renovation of a 100+ year old home on Davenport’s Gaines Street Corridor.
Rejuvenate Housing is a local nonprofit organization whose mission is to rejuvenate neighborhoods and create home ownership opportunities that promote the health and welfare of the community. They identify and acquire residential properties that can be restored as quality single-family homes, secure financing to renovate properties, and secure qualified buyers.
“When Gwen (
Tombergs) from the Rejuvenate Housing board of directors presented us with this unique opportunity, we quickly realized it was a perfect alignment with our mission to support and help underserved areas in our community,” said Linda Andry, President and CEO, Ascentra Credit Union. “Helping to restore neighborhoods to their former glory is important to the future revitalization and health of our towns and cities.”
The home due for renovation has been vacant for several months and has severe code violations, which makes it eligible for Davenport’s Extreme DREAM program. This program is designed to rehab vacant and abandoned homes into owner occupied residences along the Gaines Street Corridor and offers a dollar for dollar match up to $100,000 for qualifying expenses.
Rejuvenate Housing purchased the house at 527 West 15th Street in Davenport for $58,000. They plan to convert the two-apartment, two-story house into a single-family dwelling by completely renovating it with new materials and furnishings, while keeping its period character with antique trim and casing.
“This house is structurally sound but in need of major updates and repairs,” said Scott Dahlke, Executive Director, Rejuvenate Housing, Inc. “Through the Extreme DREAM program, the generous donation from Ascentra and a grant from the Scott County Regional Authority through the Quad Cities Housing Cluster, it’s financially feasible to make this house into a valuable asset for a family and the neighborhood – a win-win situation.”
Once the house is finished, the non-profit will sell the house to a family who falls within low to median income levels, which is less than $70,000 annually for a family of four.
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On Thursday, Aug. 30, Ascentra’s Executive Team presented Rejuvenate Housing, Inc’s board of directors with a $25,000 donation on the site of their next remodel at 527 W. 15th Street in Davenport. Pictured are (front row, left to right) Shelly Ridgeway, Executive Vice President and Chief Operations Officer, Ascentra Credit Union; Gwen Tombergs, Board President, Rejuvenate Housing, Inc.; William Ashton, Board Member, Rejuvenate Housing, Inc.; Scott Dahlke, Executive Director, Rejuvenate Housing, Inc.; Jennifer Naeve, Senior Vice President and Chief Marketing Officer, Ascentra Credit Union; (back row, left to right) Christian Marcussen, Chief Technology and Innovation Officer, Ascentra Credit Union; Beth Grabin, Chief Financial Officer, Ascentra Credit Union; Brad Knutson, Executive Vice President, Chief Technology Officer, Ascentra Credit Union; Ian Frink, Board Member, Rejuvenate Housing, Inc.; and Rita Rawson, Board Member, Rejuvenate Housing, Inc. Not Pictured: Linda Andry, President and Chief Executive Officer, Ascentra Credit Union.
Founded in 1950, Ascentra Credit Union, is Iowa's premier credit union with more than $535 million in assets and nine branches serving the communities of Bettendorf, Clinton, Davenport, Muscatine, Iowa and Moline, Ill. Learn more about Ascentra Credit Union at ascentra.org. Follow Ascentra on Facebook, Instagram @ascentracu, LinkedIn and YouTube.
About Rejuvenate Housing Inc.:
Rejuvenate Housing Inc. is a not-for-profit organization started by businessman and philanthropist Don Decker in 2020 to address redevelopment of older neighborhoods by creating home ownership opportunities that promote the health and welfare of the larger community.