IFA awards more than $11M to advance housing opportunities

Iowa Finance Authority

The Iowa Finance Authority has awarded more than $11.2 million in grants to 26 housing trust funds to support local housing initiatives. The awards are made available through the Local Housing Trust Fund program and are expected to assist 2,824 families.

Locally, grant recipients include:

  • East Central Iowa Housing Trust Fund, serving Benton, Iowa, Jones and Washington
    counties, received $403,034.
  • Eastern Iowa Regional Housing Corporation Housing Trust Fund, serving Cedar, Clinton, Delaware, Dubuque, (excluding the City of Dubuque) and Jackson counties, received $501,190.
  • Housing Fund for Linn County, serving Linn County, received $580,473.
  • Housing Trust Fund of Johnson County, serving Johnson County, received $444,945.

The grant funds will support initiatives aimed at developing or preserving housing for low-income households. This includes the development and preservation of housing, infrastructure development, transitional housing, assistance for homeless individuals, rental assistance, homeownership support, bolstering the capacity of local housing organizations and other efforts that directly address local housing needs.

The State Housing Trust Fund was created by the Iowa Legislature in 2003. Since its inception, the fund has provided $123.6 million in affordable housing assistance to benefit nearly 38,000 Iowa families, leveraging more than $180 million in other funding resources.

The State Housing Trust Fund helps ensure decent, safe and affordable housing for Iowans through two programs. The Local Housing Trust Fund Program receives at least 60% of the SHTF allocation to provide grants for organizations certified by the Iowa Finance Authority as a Local Housing Trust Fund. The remaining funding goes to the Project-Based Housing Program, which aids in the development of affordable single-family and multifamily housing.

The Iowa Finance Authority administers both programs and provides technical assistance to housing-related organizations.