DES MOINES, Iowa—The Iowa Finance Authority Board of Directors recently awarded a total of $100,000 in State Housing Trust Fund grants to Habitat for Humanity affiliates to support the construction of homes in Boone and Indianola. The funding is made available through the State Housing Trust Fund’s Project-Based Housing program.
“The Iowa Finance Authority is proud to work in partnership with Habitat for Humanity affiliates as we work to advance our shared mission of advancing housing opportunities for Iowans,” said Iowa Finance Authority Executive Director Debi Durham. “The awards announced today will not only assist two Iowa families in becoming homeowners but will also provide a wealth of benefits to the Boone and Indianola communities for many years to come.”
Heart of Iowa Habitat for Humanity, Boone – $50,000
The Heart of Iowa Habitat for Humanity will use a $50,000 State Housing Trust Fund grant to assist in the construction of a single-family home on an infill lot in Boone. The ranch-style home will include approximately 1,000 square feet of finished living space with two bedrooms.
Warren County Habitat for Humanity, Indianola – $50,000
Warren County Habitat for Humanity will use a $50,000 State Housing Trust Fund grant to assist in the construction of a single-family home on an infill lot in Indianola. The ranch-style home will include approximately 960 square feet of finished living space with two bedrooms on the main level and an additional two bedrooms in a finished basement.
Both Habitat for Humanity affiliate homes will be sold to income-qualified homebuyers who will receive financial, home repair, homeownership and foreclosure prevention education and must also complete the required sweat equity hours prior to closing on the homes.
The State Housing Trust Fund has awarded more than $100.8 million in funding and has assisted more than 34,300 affordable housing units since the program’s inception in 2003. These awards have leveraged an additional $170.7 million or $1.69 in other resources for every dollar of State Housing Trust Fund funding.
The Iowa Legislature created the Iowa Finance Authority, in 1975 to undertake programs to assist in the attainment of housing for low- and moderate-income Iowans. Since then, the Iowa Finance Authority’s role has grown to include nearly 40 affordable housing, water quality and agricultural development programs.
(contributed press release)
