State Housing Trust Fund Grants to Advance Housing Opportunities
The Iowa Finance Authority (IFA) Board of Directors recently awarded a total of $100,000 in State Housing Trust Fund grants to Habitat for Humanity affiliates to support the construction of homes in Cedar Falls and Hospers. The funding is made available through the State Housing Trust Fund’s Project-Based Housing program.
“IFA’s long-standing partnership with Habitat for Humanity affiliates has assisted more than 100 Iowans in achieving their dreams of homeownership,”
said Iowa Finance Authority Executive Director Debi Durham. “The awards announced today will assist two families in not only opening the door to homeownership but also to upward economic mobility, wealth creation and pride of ownership.”
Iowa Heartland Habitat for Humanity, Cedar Falls – $50,000
The Iowa Heartland Habitat for Humanity will use a $50,000 State Housing Trust Fund grant to assist in the construction of a single-family home on an infill lot in Cedar Falls. The ranch-style home will include approximately 1,200 square feet of finished living space with three bedrooms, a full unfinished basement and a single-car garage.
Siouxland Habitat for Humanity, Hospers – $50,000
Siouxland Habitat for Humanity will use a $50,000 State Housing Trust Fund grant to assist in the construction of a single-family home in Hospers. The ranch-style home will include approximately 1,120 square feet of finished living space with three bedrooms, a full basement and a two-car garage.
Both Habitat for Humanity affiliate homes will be sold to income-qualified homebuyers who will receive financial, home repair, homeownership and foreclosure prevention education and must also complete the required sweat equity hours prior to closing on the homes.
The State Housing Trust Fund has awarded more than $100.9 million in funding and has assisted more than 35,200 affordable housing units since the program’s inception in 2003. These awards have leveraged an additional $171.6 million or $1.70 in other resources for every dollar of State Housing Trust Fund funding.