DES MOINES – The Iowa Finance Authority (IFA) Board of Directors recently approved nearly $10 million in grants to aid in housing development and supportive services for individuals experiencing homelessness or who are at risk of becoming homeless.
The awards include a total of nearly $6 million in grants to thirty homeless services agencies to enhance supportive services, nonprofit operations and capacity building and $3.625 million for the development of 18 rental units with supportive services in Des Moines. The funding is made available through the Federal HOME-American Rescue Plan (ARP) program.
“The grant funds announced today will help agencies across the state provide vital services to individuals experiencing homelessness or at risk of homelessness, while also supporting operational costs so they can continue their essential work of helping Iowans get back on their feet,” said IFA Director Debi Durham.
Award Summary:
Housing Development and Support: $3.625 million
Hatch Development Corporation was awarded a total of $3.625 million for the development of 18 new rental units for at-risk populations at the former HOPE+Elim Church site in Des Moines. The project is in partnership with Starts Right Here and Perennial Properties. The total grant award includes $2.5 million for development costs, $750,000 in Supportive Services Funds, $187,500 for Non-Profit Operations and $187,500 for Non-Profit Capacity Building.
Supportive Services: $4,041,716
Supportive services include activities necessary to assist the qualifying populations, prevent homelessness, or enable qualifying households to obtain and maintain housing.
Nonprofit Operating Cost Assistance: $913,486
Reasonable and necessary costs of operating the nonprofit organization.
Nonprofit Capacity Building Assistance: $999,326
Reasonable and necessary general operating costs that will result in the expansion or improvement of an organization’s ability to successfully carry out eligible HOME-ARP activities.
The HOME-ARP program was created by the American Rescue Plan to reduce homelessness and increase housing stability. IFA was designated approximately $29 million in HOME-ARP funds in a one-time allocation.
The full award list is available here.
# # #