(Des Moines) The Iowa Economic Development Authority (IEDA) this week announced workforce housing tax credits to develop new housing across Iowa. The awards were made to support the construction of 57 housing projects in 30 counties statewide.
Here in southwest Iowa, new construction of 102 units at Western Ridge on Valley View Drive in Council Bluffs was awarded $1,000,000 in tax credits. Another project in Mounty Ayr at 106 E Madison was awarded $27,271. New construction of the Manilla Woodland Park Apartments in Manilla was awarded $171,715, and new construction four single family home units in Manilla was awarded $111,731 in tax credits.
IEDA received 133 applications requesting nearly $79 million in tax credits. IEDA had $35 million available for fiscal year 2023. Of that amount, $17.5 million in credits were set aside for projects in small communities defined as those in Iowa’s 88 least populated counties. Projects were scored competitively based on readiness, documented financing, need, local support and participation.
The Workforce Housing Tax Credit program provides tax benefits to developers to build new housing in Iowa communities, focusing especially on those projects using abandoned, empty or dilapidated properties.
