Iowa Finance Authority awards nearly $5.5 million from Local Housing Trust Fund to provide nearly 2,000 Iowa families with affordable housing opportunities

State Housing Trust Fund Grants to Spur Affordable Housing Initiatives

DES MOINES – December 7, 2012 – (RealEstateRama) — The Iowa Finance Authority Board of Directors recently approved a total of more than $5.4 million in grants to 25 Local Housing Trust Funds to move local affordable housing projects forward. The grants will aid in the development and preservation of nearly 2,000 affordable housing units throughout the state.

“The Local Housing Trust Fund program is evidence of successful public, private partnerships at work all throughout the state,” said Iowa Finance Authority Executive Director Dave Jamison. “The grants announced today will provide nearly $5.5 million in funding and leverage an additional $6 million in local contributions to assist 25 Local Housing Trust Funds in moving housing priorities forward and ultimately supporting safe and thriving neighborhoods for Iowa families to work, live and play.”

The grant funds will be used for initiatives such as subsidizing local down payment assistance programs, providing low-interest loans or grants to assist Iowans in home rehabilitation, financing construction of new single-family housing for low-income Iowans, supporting transitional housing programs as well as homeless assistance and prevention.

The State Housing Trust Fund was created by the Iowa Legislature in 2003. Since its inception, the program has provided $34.5 million in affordable housing assistance to more than 10,800 Iowa families, and has leveraged another $139.5 million in other funds.

The State Housing Trust Fund (SHTF) helps ensure decent, safe and affordable housing for Iowans through two important programs. The Local Housing Trust Fund Program receives at least 60 percent of the SHTF allocation to provide grants for local housing trust funds. The remaining funds go to the Project-Based Housing Program that aids in the development of single-family and multifamily housing. The Iowa Finance Authority administers both programs and provides technical assistance to housing-related organizations.
The Iowa Legislature created The Iowa Finance Authority, the state’s housing finance agency, in 1975 to undertake programs to assist in the attainment of housing for low and moderate-income Iowans.

FY 2013 State Housing Trust Fund – Local Housing Trust Fund Program
Grant Award Summary

AHEAD Regional Housing Trust Fund – $165,600
 Description: This grant will assist an estimated 58 households in the following activities: owner-occupied rehabilitation and urgent repair programs, rental rehabilitation, tenant-based rental assistance and affordable housing initiatives with an emphasis on transitional housing, including demolition/redevelopment, new construction and special projects.
 Area served: Davis, Jefferson, Keokuk, Mahaska, Van Buren and Wapello Counties
 Contact: Ellen Foudree: 641.684.6551

Chariton Valley Regional Housing Trust Fund, Inc. – $212,431
 Description: This grant will focus on providing assistance to improve single-family and multifamily housing options for approximately 40 households in the region, and provide for the removal of blighted properties for future housing development. Owner-occupied housing rehabilitation will continue to be an eligible activity.
 Area served: Appanoose, Lucas, Monroe and Wayne Counties
 Contact: Jennifer Appler: 641.856.2173 x222

City of Dubuque Housing Trust Fund – $147,637
 Description: This grant will fund revitalization efforts in a blighted downtown neighborhood. Proposed activities will promote increased homeownership opportunities, as well as owner-occupied and rental housing rehabilitation, for an estimated 15 units. Loans and forgivable loans will be made to qualified households for home purchase and/or rehabilitation. Construction loans may also be made to nonprofit developers and contractors to acquire and rehabilitate properties for resale to qualified homebuyers.
 Area served: City of Dubuque
 Contact: Kris Neyen: 563.589.4239

Clay County Local Housing Trust Fund, Inc. – $46,667
 Description: This grant will assist an estimated 12 eligible households through the financing of needed repairs and rehabilitation of the county’s aging owner-occupied housing stock.
 Area served: Clay County
 Contact: Pam Virelli: 712.262.1150

COG Housing, Inc. – $249,671
 Description: This grant will assist 28 low-income households through a combination of grants and low-interest loans. Eligible activities will include lead hazard remediation, owner-occupied rehabilitation, down payment assistance for homebuyers and emergency relocation and foreclosure prevention assistance.
 Area served: Audubon, Carroll, Crawford, Greene, Guthrie and Sac Counties
 Contact: Laurie Gilbert: 712.792.9914

Council Bluffs Housing Trust Fund, Inc. – $152,230
 Description: This grant will provide funding to promote the development of an estimated 25 affordable rental and homeownership housing opportunities through the financing of rehabilitation, new construction or direct assistance activities. The funds will also be used to promote homebuyer and tenant education, including general maintenance information.
 Area served: City of Council Bluffs
 Contact: Brenda Carrico: 712.328.4629

Dallas County Local Housing Trust Fund, Inc. – $152,036
 Description: This grant is estimated to assist 16 low-income households through owner-occupied rehabilitation. The county will be split into four quadrants, with funding to be equally distributed in each area to the best extent possible.
 Area served: Dallas County
 Contact: Christine Gordon: 515.273.0770

East Central Iowa Housing Trust Fund – $259,773
 Description: This grant will assist an estimated 30 households through eligible activities, including demolition/clearance, development, reconstruction or rehabilitation for rental and owner-occupied housing, homeownership assistance, rental assistance including security deposits and utilities, transitional housing and housing for the homeless.
 Area served: Benton, Iowa, Jones and Washington Counties
 Contact: Tracey Achenbach: 319.365.9941

Fayette County Local Housing Trust Fund – $50,880
 Description: This grant will assist approximately 11 low-income households through the financing of needed repairs and rehabilitation of the county’s aging housing stock. Both owner-occupied and rental rehabilitation will be eligible activities, and the focus of the funds will be to assist existing homeowners with rehabilitation work of their single-family homes.
 Area served: Fayette County
 Contact: Lori Brockway: 563.864.7551

Floyd County Housing Trust Fund – $46,303
 Description: This grant will be used to implement a county-wide furnace replacement program for an estimated 18 low-income households. Priority will be given to extremely low-income homeowners.
 Area served: Floyd County
 Contact: Tim Fox: 641.228.3020 x13

Great River Housing, Inc. – $282,719
 Description: This grant will assist an estimated 43 eligible households through owner-occupied rehabilitation assistance to homeowners, down payment assistance to home buyers and helping in the acquisition and rehabilitation, resale or demolition of dilapidated homes.
 Area served: Des Moines, Henry, Lee and Louisa Counties
 Contact: Sara Hecox: 319.753.4311

Homeward Housing Trust Fund – $291,249
 Description: This grant will be used to continue Homeward Housing Trust Fund’s homeownership assistance program, offering down payment and closing cost assistance for home buyers and assistance with minor home repairs for existing homeowners. Repair assistance for rental property owners may be offered and utility and rental deposit assistance will be available to extremely low-income households. Approximately 56 low-income households are estimated to benefit in total.
 Area served: Calhoun, Franklin, Hancock, Humboldt, Kossuth, Mitchell, Palo Alto, Pocahontas, Winnebago, Worth and Wright Counties
 Contact: Deb Prehm: 515.532.6477

Housing Trust Fund of Johnson County – $250,882
 Description: This grant will be incorporated into an existing revolving loan fund to support the development and preservation of affordable owner-occupied, rental, transitional and emergency shelter housing in Johnson County. Businesses, individuals, nonprofit organizations and governmental entities are eligible to apply for financing through the loan program. This grant is estimated to assist 21 affordable housing units.
 Area served: Johnson County
 Contact: Tracey Achenbach: 319.358.0212

Housing Fund for Linn County – $331,226
 Description: This grant will assist with an estimated 72 households through eligible activities, including demolition/clearance, development, reconstruction or rehabilitation for rental and owner-occupied housing, homeownership assistance, rental assistance including security deposits and utilities, transitional housing and housing for the homeless.
 Area served: Linn County
 Contact: Tracey Achenbach: 319.365.9941

Iowa Northland Regional Housing Council LHTF – $283,417
 Description: This grant will focus on the following activities to impact an estimated 124 households: a partnership with two agencies located in Bremer County to repair existing or create new housing for persons with disabilities, a partnership with Iowa Heartland Habitat for Humanity to build or rehabilitate a single-family home, a partnership with Northeast Iowa Community Action Corporation to assist in the construction of a new home in Bremer County for lease-purchase, a partnership with USDA Rural Development to provide needed roof and other repairs to affordable rental housing in Bremer, Butler and Grundy Counties and an owner-occupied housing rehabilitation program for homeowners living in rural areas.
 Area served: Black Hawk (excluding the cities of Waterloo and Cedar Falls), Bremer, Buchanan, Butler, Chickasaw and Grundy Counties
 Contact: Jim Rodemeyer: 319.235.0311

Lakes Community Land Trust – $46,667
 Description: This grant will provide assistance to an estimated 21 low-income households by funding the following activities: homeownership support by buying down the cost of new or rehabilitated homes through the community land trust model and to help local agencies provide affordable rental housing for persons receiving services under a Home and Community Based Services Medicaid Waiver. It will also provide assistance to extremely low-income households through nonprofit organizations providing housing to homeless persons or persons with disabilities and to assist seniors or others living on fixed incomes make home repairs and handicapped accessibility improvements to their homes.
 Area served: Dickinson County
 Contact: Jim Golden: 712.336.1068

NIACOG Housing Trust Fund, Inc. – $74,151
 Description: This grant will finance emergency repairs for owner-occupied housing units and the rehabilitation of both owner-occupied and rental properties, benefiting approximately 8 low-income households.
 Area served: Cerro Gordo County
 Contact: Myrtle Nelson: 641.423.0491 x16

Northeast Iowa Regional Housing Trust Fund – $238,081
 Description: This grant will assist in the preservation of an estimated 43 affordable rental and owner-occupied housing units in the service area. Proposed funding activities will address the repair and rehabilitation of the region’s aging housing stock and first-time homebuyer assistance.
 Area served: Allamakee, Clayton, Howard and Winneshiek Counties
 Contact: Lori Brockway: 563.864.7551

Northwest Iowa Regional Housing Trust Fund, Inc. – $271,707
 Description: This grant will focus on assisting an estimated 40 low-income homeowners in the service area through the financing of needed repairs and rehabilitation of the region’s aging housing stock, including emergency repairs and lead-hazard reduction activities.
 Area served: Buena Vista, Emmet, Lyon, O’Brien, Osceola and Sioux Counties
 Contact: Carol Keizer: 712.262.7225 x140

Polk County Housing Trust Fund – $550,640
 Description: This grant will be used to help finance the Polk County Housing Trust Fund’s owner-occupied housing repair program and is expected to assist an estimated 400 low-income households.
 Area served: Polk County
 Contact: Eric Burmeister: 515.282.3233

Region 6 Housing Trust Fund – $269,863
 Description: This grant will provide assistance for an estimated 18 low-income residents through the rehabilitation of owner-occupied and rental housing. The funding may also provide for new construction of affordable housing in partnership with Habitat for Humanity and assistance to homeless shelters.
 Area served: Hardin, Marshall, Poweshiek and Tama Counties
 Contact: Marty Wymore: 641.752.3978

Scott County Housing Council – $382,969
 Description: The funding will be incorporated into a grant revolving loan fund, to which all Scott County nonprofit housing service providers and for-profit developers are eligible to apply in support of their affordable housing efforts. Assisted projects will promote the goals of the two-year strategic plan adopted by the Quad Cities Housing Cluster, which addresses the area’s full continuum of housing needs. Funding will also be provided to the Muscatine Housing Cluster to promote its annual plan goals through owner-occupied housing rehabilitation, down payment assistance and capacity building grants for affordable housing partner agencies. The grant will assist an estimated 749 affordable housing units.
 Area served: Scott and Muscatine Counties
 Contact: Rick Schloemer: 563.323.0420

Sioux City Housing Trust Fund, Inc. – $172,684
 Description: This grant will be used for single family owner-occupied rehabilitation assistance for low-income households in the city’s urban renewal areas, providing an estimated 17 homeowners up to a maximum of $10,000 in forgivable loans for rehabilitation and lead based paint mitigation purposes as well as provide eligible homeowners up to a maximum of $5,000 in grant funds to finance the emergency repair of critical systems.
 Area served: City of Sioux City
 Contact: Paul Barnes: 712.279.6283

Southern Iowa COG Housing Trust Fund – $244,115
 Description: This grant will focus efforts on seven affordable housing activities to assist an estimated 30 households: owner-occupied rehabilitation in support of homeownership, first-time homebuyer assistance, transitional/special needs housing (including assisted living), infrastructure for new development/infill housing, lead-based paint remediation, demolition and lot clearance for new construction and rental projects.
 Area served: Adair, Adams, Clarke, Decatur, Madison, Ringgold, Taylor and Union Counties
 Contact: Tim Ostroski: 641.782.8491

Southwest Iowa Housing Trust Fund, Inc. – $296,151
 Description: This grant will assist an estimated 50 households by providing down payment assistance for low-income households and owner-occupied and rental rehabilitation assistance for extremely low-income households. In addition, lead-based paint stabilization assistance to eliminate lead-based paint hazards in owner-occupied and rental units will be provided. Local matching funds will also be utilized to finance a demolition program to remove dilapidated housing in the region.
 Area served: Cass, Fremont, Harrison, Mills, Montgomery, Page, Pottawattamie and Shelby Counties
 Contact: Jeremy Middents: 712.243.4196

Contact:
Ashley Jared: 515-725-4934
515-494-6213