The Iowa legislature created the Local Housing Trust Fund Program to allow certified Local Housing Trust Funds to efficiently fulfill unique local affordable housing needs throughout the state. The program receives at least 60% of the State Housing Trust Fund allocation to provide grants for organizations certified by the Iowa Finance Authority as a Local Housing Trust Fund.
Awards from the Local Housing Trust Fund Program must be used for the development or preservation of affordable housing for eligible recipients. Each Local Housing Trust Fund outlines its eligible projects in an approved Housing Assistance Plan. Examples include:
All Local Housing Trust Fund dollars must benefit low-income households at or below 80% of the area median income, while at least 30% of the funds must be used to serve extremely low-income households at or below 30% of the area median income.
Please note that individuals may not apply directly to the Iowa Finance Authority for assistance. If you are looking for housing assistance, please contact the Local Housing Trust Fund in your area.