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Iowa Finance Authority Awards $1.2 Million in Federal Funds to Provide Rental Assistance for 520 Iowa Families

Published on October 11, 2017 by Iowa Finance Authority
Iowa Finance Authority Awards $1.2 Million in Federal Funds to Provide Rental Assistance for 520 Iowa Families

Federal HOME Program to Provide Rental Assistance in 20 Iowa Counties

DES MOINES, IA — The Iowa Finance Authority Board of Directors recently announced six awards to affordable housing organizations totaling more than $1.2 million. The funding will provide rental assistance to 520 income-eligible families and is made available through the federal HOME Tenant-Based Rental Assistance program.

”The HOME program awards announced today are a prime example of partnerships at work as this funding has leveraged a total of nearly $90,000 in local contributions,” said Iowa Finance Authority Executive Director Dave Jamison. ”This funding will assist more than 500 Iowa families with rental assistance as they work to build their futures in our great state.”

The U.S. Department of Housing and Urban Development annually allocates HOME program funds to states and localities nationwide with the goal of increasing affordable housing opportunities. The Iowa Finance Authority administers the HOME program in Iowa.

The HOME Tenant-Based Rental Assistance program may be used to assist income-eligible households with monthly rental assistance payments or upfront security and utility deposits. Funds are provided directly to the landlord or utility on behalf of the tenant.

Applications for funding were scored in several categories including capacity, amount of matching funds and location of the project.

The Iowa Legislature created the Iowa Finance Authority, the state’s housing finance agency, 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. The Iowa Finance Authority is a self-supporting public agency.

HOME Program Tenant-Based Assistance Awards

Anawim Housing, Des Moines
Counties served: Polk
HOME award: $288,638
Households to be assisted: 40

Affordable Housing Network, Inc., Cedar Rapids
Counties served: Dubuque, Linn, Scott
HOME award: $225,760
Households to be assisted: 60

City of Clinton
Counties served: Clinton
HOME award: $55,522
Households to be assisted:120

Eastern Iowa Regional Housing Corporation, Dubuque
Counties served: Cedar, Clinton, Delaware, Dubuque, Jackson, Jones, Scott
HOME award: $503,025
Households to be assisted: 33

Fort Dodge Housing Agency, Fort Dodge
Counties served: Calhoun, Hamilton, Humboldt, Pocahontas, Webster, Wright
HOME award: $92,100
Households to be assisted: 190

Upper Explorerland Regional Planning Commission, Postville
Counties served: Allamakee, Clayton, Fayette, Howard, Winneshiek
HOME award: $105,964
Households to be assisted: 30

Media Contact
Ashley Jared
Communications Director
2015 Grand Avenue | Des Moines, Iowa 50312
515.725.4934 | 800.432.7230 | fax 515.725.4901