Des Moines – 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 Hawarden and Waterloo. The funding is made available through the State Housing Trust Fund’s Project-Based Housing program.
said Iowa Finance Authority Executive Director Debi Durham. “The awards granted today will not only assist three Iowa families in becoming homeowners but will also provide a wealth of benefits to the Hawarden and Waterloo communities for many years to come.”
Siouxland Habitat for Humanity, Hawarden – $50,000
Siouxland Habitat for Humanity will use a $50,000 State Housing Trust Fund grant to assist in the construction of a new single-family home on an infill lot in Hawarden. The home will include approximately 1,160 square feet of finished living space with three bedrooms.
Iowa Heartland Habitat for Humanity, Waterloo – $50,000
Iowa Heartland Habitat for Humanity will use two $25,000 State Housing Trust Fund grants to assist in the construction of two single-family homes on infill lots in Waterloo. The homes will include approximately 1,100 square feet of finished living space with three bedrooms.
The three 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 $91.5 million in funding and has assisted more than 33,100 housing units since the program’s inception in 2003. These awards have leveraged an additional $167.4 million or $1.83 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.