Des Moines – The Iowa Finance Authority Board of Directors today awarded a total of $97,000 in State Housing Trust Fund grants to Habitat for Humanity affiliates to support the construction of homes in Dubuque and Waterloo. The funding is made available through the State Housing Trust Fund’s Project-Based Housing program.
“The awards granted today will not only assist three Iowa families in becoming homeowners, but will also provide a wealth of benefits to the Dubuque and Waterloo communities for many years to come,” said Director Durham.
Dubuque and Jackson County Habitat for Humanity, Dubuque – $47,000
Dubuque and Jackson County Habitat for Humanity will use a $47,000 State Housing Trust Fund grant to assist in the construction of a single-family home on an infill lot in Dubuque’s Washington Neighborhood, an area of the city being targeted as part of a complete neighborhood revitalization effort. The two-story home will include approximately 1,800 square feet of finished living space with four 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 new single-family homes on infill lots in Waterloo’s Walnut Neighborhood, an area of the city being targeted as part of a complete neighborhood revitalization effort. Both homes will include approximately 1,020 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 $84.4 million in funding and has assisted more than 30,700 affordable housing units since the program’s inception in 2003. These awards have leveraged an additional $163.7 million or $1.94 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 affordable housing, water quality and beginning farmer programs.