Iowa Finance Authority to Give Local Housing Trust Funds More than $ 9 Million to Advance Housing Priorities – Newton Daily News

DES MOINES – The Iowa Finance Authority’s board of directors announced that it has awarded more than $ 9 million in grants to 27 Local Housing Trust Funds to support local housing initiatives. The grants are made available through the Local Housing Trust Fund program and are designed to serve more than 2,100 families, including $ 409,023 to the Central Iowa Housing Trust Fund for Boone, Jasper, Marion, and Warren Counties.

“The Local Housing Trust Fund 2022 awards represent the largest amount allocated to the Local Housing Initiatives Program since the program began,” said Debi Durham, executive director of the Iowa Finance Authority. “The Iowa Legislature recognized the Local Housing Trust Fund program as a very successful funding mechanism in promoting housing for Iower by increasing the amount of eligible funding for the program. This increase in funding will soon have a profound impact on Iowans and our communities. “

“The State Housing Trust Fund is an important funding tool that has enabled us to improve housing options for our workforce,” said Ellen McCabe, Johnson County’s Housing Trust Fund. “We appreciate partnering with the Iowa Finance Authority to bring homes to thousands of Iowans and look forward to serving even more in the future. We also commend the governor and the legislature for making housing a priority. ”

The grant funds will be used for initiatives such as maintaining the aging housing stock, subsidizing local rental and down payment assistance programs, providing low-interest loans or grants to support home renovation in Iowern, financing the construction of new single family homes for low-income Iowans, and supportive housing for people with Iowans Disabilities and homeless support programs.

The State Housing Trust Fund was created in 2003 by the Iowa Legislature. The awards announced today will mobilize an additional $ 2.5 million in other funding, or $ 0.28 for every dollar of funding for the Local Housing Trust Fund program. Since its inception, the program has provided $ 93 million in affordable housing to help more than 31,000 families in Iowa.

The State Housing Trust Fund helps ensure decent, safe and affordable housing for Iower through two programs. The Local Housing Trust Fund program receives a minimum of 60 percent of the SHTF allocation to provide grants to organizations certified by the Iowa Finance Authority as a Local Housing Trust Fund.

The remaining funds flow into the project-based housing program, which supports the development of affordable single and multi-family houses. The Iowa Treasury administers both programs and provides technical assistance to housing-related organizations.

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