December 6, 2023
State Housing Trust Fund Grants to Assist nearly 3,000 Households Maintain or Access Housing
DES MOINES – The Iowa Finance Authority (IFA) Board of Directors today announced the award of a total of more than $11.2 million in grants to 26 Local Housing Trust Funds to support local housing initiatives. The grant awards are made available through the Local Housing Trust Fund program and are expected to assist 2,824 families.
“The 2024 Local Housing Trust Fund awards represent the largest annual amount with the largest projected impact allocated through the program since inception,” said IFA Director Debi Durham. “Today’s awards will support housing initiatives that will ensure that nearly 3,000 families have the ability to live, work and thrive in our communities.”
"The State Housing Trust Fund is a crucial financial resource which enables us to advance local housing priorities,"
said Polk County Housing Trust Fund Executive Director Toby O’Berry. “These funds enable us to provide more than just homes; they ignite the ripple effects of affordable housing, positively impacting lives and fostering strong communities.”
The grant funds will support a range of initiatives aimed at developing or preserving housing for low-income households across the spectrum of housing needs. This includes the development and preservation of housing, infrastructure development, transitional housing, assistance for homeless individuals, rental assistance, homeownership support, bolstering the capacity of local housing organizations and other efforts that directly address local housing needs.
The State Housing Trust Fund was created by the Iowa Legislature in 2003. The awards announced today will leverage an additional $3.3 million in other financing or $.30 for every dollar of Local Housing Trust Fund program funding. Since its inception, the State Housing Trust Fund has provided $123.6 million in affordable housing assistance to benefit nearly 38,000 Iowa families, leveraging more than $180 million in other funding resources.
The State Housing Trust Fund helps ensure decent, safe and affordable housing for Iowans through two programs. The Local Housing Trust Fund Program receives at least 60 percent of the SHTF allocation to provide grants for organizations certified by the Iowa Finance Authority as a Local Housing Trust Fund.
The remaining funding goes to the Project-Based Housing Program, which aids in the development of affordable single-family and multifamily housing. The Iowa Finance Authority administers both programs and provides technical assistance to housing-related organizations.
The award list can be found here.