(Atlantic) The Iowa Finance Authority (IFA) Board of Directors recently announced more than $12.2 million in grants to 26 Local Housing Trust Funds. The Southwest Iowa Housing Trust Fund (SWIHTF), administered by the Southwest Iowa Planning Council (SWIPCO), was honored to be one of those recipients for a total of $441,474.
The grant funds support a range of initiatives aimed at developing or preserving housing for low-income households. This includes the development and preservation of housing, rental assistance, assistance for people experiencing homelessness, and homeownership support across the state. These funds bolster the capacity of local housing organizations to directly address local housing needs.
The housing trust fund annual grant funding allows SWIPCO and SWIHTF to help on average 22 families a year purchase a home with down payment assistance. An average of 25 families receive necessary home repairs such as heating, plumbing, windows, and more to help them safely stay in their homes. Funding also supports the ability of communities in the region to demolish dilapidated homes and create infill lots for new development. SWIPCO Executive Director John McCurdy said, “In a very real way we are able to help keep families in Southwest Iowa and empower residents to stay in their homes longer.”
The State Housing Trust Fund was created by the Iowa Legislature in 2003 and Local Housing Trust Fund awards come from this fund. Since its inception, the State Housing Trust Fund has provided $140 million in affordable housing assistance to benefit more than 41,400 families. The awards announced this year are expected to leverage an additional $3.6 million in other financing to complete projects.
SWIHTF was created in 2005 and serves seven counties in Southwest Iowa: Cass, Fremont, Harrison, Mills, Montgomery, Page, and Shelby.
