More than $200,000 in I-JOBS grants made to preserve and build affordable housing
DES MOINES, IA – January 18, 2010 – (RealEstateRama) — Governor Chet Culver announced this week that two organizations will use I-JOBS funds to build and preserve 62 affordable housing projects in Davenport and West Union. The awards total more than $200,000 and are made through the Affordable Housing Assistance Grant Fund, a part of the Culver/Judge Administration’s I-JOBS initiative. The Iowa Finance Authority administers the program.
“The I-JOBS grant awards announced recently will save existing and create new, quality affordable housing in Davenport and West Union. Affordable housing for hard-working Iowans is a vital component in making Iowa communities great places to live, work and raise a family,” Governor Culver said. “I’m proud that I-JOBS is making these important housing projects possible and I’m eager to see them directly improve the quality of life for the Iowans who are able to take advantage of them.”
The Affordable Housing Grant Program includes $20 million to build or rehabilitate housing for certain elderly, disabled, and low-income persons and public servants in critical skills shortage areas of the state. Only cities, counties and qualified nonprofit organizations are eligible applicants. Applications are accepted on an ongoing basis until funds are exhausted. To date, more than $12 million from the program has been committed to assist 698 affordable housing units. These awards leverage an additional $18,989,907 in other financing sources or $1.55 for every dollar of I-JOBS funds.
The Scott County Housing Cluster was awarded a $153,838 grant to assist Vera French Housing Corporation and Neighborhood Housing Services of Davenport, Inc., rehabilitate 61 affordable rental housing units for low-income residents in Davenport.
A grant of $50,000 was awarded to Fayette County Habitat for Humanity to help finance the construction of a single-family home in West Union. The partner family will receive financial, home repair, homeownership, and foreclosure prevention education. Habitat for Humanity will administer the grant.
More information on the Culver/Judge I-JOBS initiative is available at www.ijobsiowa.gov