Iowa Finance Authority Board, under its Allocation Plan, awarded close to $5.5 million to 25 different housing agencies across the state of Iowa Wednesday. The grants will aid in the development and preservation of nearly 2,000 affordable housing units throughout the state.
Clay County Local Housing Trust Fund Inc. and Lakes Community Land Trust - serving Dickinson County - each received $46,667.
"The Local Housing Trust Fund program is evidence of successful public, private partnerships at work all throughout the state," IFA Executive Director Dave Jamison said. "The grants announced today will provide nearly $5.5 million in funding and leverage an additional $6 million in local contributions to assist 25 Local Housing Trust Funds in moving housing priorities forward and ultimately supporting safe and thriving neighborhoods for Iowa families to work, live and play."
The grant funds will be used for initiatives such as subsidizing local down payment assistance programs, providing low-interest loans or grants to assist Iowans in home rehabilitation, financing construction of new single-family housing for low-income Iowans, supporting transitional housing programs as well as homeless assistance and prevention.
More than $271,000 was distributed to the Northwest Iowa Regional Housing Trust Fund Inc. serving Buena Vista, Emmet, Lyon, O'Brien, Osceola and Sioux counties.
Homeward Housing Trust Fund - an 11-county group, including Palo Alto County - received more than $291,000 in funding.
The State Housing Trust Fund was created by the Iowa Legislature in 2003. Since its inception, the program has provided $34.5 million in affordable housing assistance to more than 10,800 Iowa families, and has leveraged another $139.5 million in other funds.
Attempts to reach Kris Vodraska, secretary for the Clay County Local Housing Trust Fund Board, were unsuccessful Thursday.
Vodraska is also the director of construction and rehabilitation with Community Housing Initiatives based in Spencer.