DES MOINES, Iowa (KCAU) – The Iowa Finance Authority Board of Directors announced on Wednesday that the Siouxland area has been awarded over $700,000 to advance housing priorities in the area.
The funds are a part of the more than $7 million in grants to 27 Local Housing Trust Funds to support local housing initiatives.
The grant awards are made available through the Local Housing Trust Fund program and are expected to assist over 2,100 families.
“The Local Housing Trust Fund program is a highly successful funding mechanism that serves all 99 counties, ensures local leaders can make critical housing projects a reality, and leverages millions in other contributions,” said Iowa Finance Authority Executive Director Debi Durham. “Thousands of Iowa families will soon have access to a home in which they can prosper as a result of the outstanding work of Iowa’s 27 Local Housing Trust Funds.”
“The State Housing Trust Fund is a critical financing tool that has allowed us to advance housing opportunities for our workforce in Cerro Gordo and Floyd Counties,” said Myrtle Nelson, Executive Director of the NIACOG Housing Trust Fund. “The program’s model is highly successful and could be an even greater game changer for advancing affordable housing in rural and urban areas alike if more funding is available in the future.”
They will be used for initiatives such as the following:
- Preserving aging housing stock
- Subsidizing local rental and down payment assistance programs
- Providing low-interest loans or grants to assist Iowans with home rehabilitation
- Financing construction of new single-family housing for low-income Iowans and supporting housing for persons with disabilities and homeless assistance programs
The award announced on Wednesday will leverage an additional $2.6 million in other financing or $0.38 for every dollar of Local Housing Trust Fund program funding.
The State Housing Trust Fund was created by the Iowa Legislature in 2003. Since the program began, it has provided $84 million in affordable housing assistance to benefit almost 29,000 families in Iowa.
The State Housing Trust Fund helps to ensure affordable, decent, and safe housing for Iowans through two programs that are administered by the Iowa Finance Authority:
- The Local Housing Trust Fund Program receives at least 60% of the allocation to provide grants for organizations that are certified by the Iowa Finance Authority as a Local Housing Trust Fund.
- The remainder of the funding goes to the Project-Based Housing Program, which aids in the development of affordable single-family and multifamily housing.
The Iowa Finance Authority also provides technical assistance to housing-related organizations.
For the full list of Siouxland Local Housing Trust Funds that received the funds, see the list below.
|Trust Fund||Area Served||Award|
|Council of Governments Housing, Inc.||Audubon, Carroll, Crawford, Greene, Guthrie and Sac Counties||$235,872|
|Homeward Housing Trust Fund||Calhoun, Franklin, Hancock, Humboldt, Kossuth, Mitchell, Palo Alto, Pocahontas, Winnebago, Worth and Wright Counties||$283,686|
|Northwest Iowa Regional Housing Trust Fund, Inc.||Buena Vista, Clay, Dickinson, Emmet, Lyon, O’Brien, Osceola and Sioux Counties||$299,547|
|Sioux City Housing Trust Fund, Inc.||City of Sioux City||$170,087|
|Southwest Iowa Housing Trust Fund, Inc.||Cass, Fremont, Harrison, Mills, Montgomery, Page and Shelby Counties||$253,756|
|Western Iowa Community Improvement Regional Housing Trust Fund||Cherokee, Ida, Monona, Plymouth and Woodbury (excluding the city of Sioux City) Counties||$233,810|
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