For immediate release:
Aug. 9, 2024
Contact:
Ashley Jared, 515-452-0474
(DES MOINES) – The Iowa Finance Authority (IFA) Board of Directors today awarded a total of nearly $3.7 million to support the construction and rehabilitation of a total of 13 affordable rental homes and supportive services for Iowans who are homeless or at-risk of homelessness. The funding is made available through the federal HOME-ARP Program.
“We know that providing Iowans with access to a safe home is the first priority for those at risk of or experiencing homelessness,” said IFA Director Debi Durham. “The projects awarded today will offer not only safe housing but also a launching pad for a fresh start and a stable foundation for long-term success.”
The HOME-ARP program was created by the American Rescue Plan (ARP) to reduce homelessness and increase housing stability. IFA was designated approximately $29 million in HOME-ARP funds in a one-time allocation. The program will assist individuals and households who are homeless or at risk of homelessness and other vulnerable populations by providing housing and supportive service assistance to reduce homelessness and increase housing stability. IFA will issue awards through the program on an ongoing basis until all funds have been exhausted.
“The award announced today will enable us to offer shelter to victims and survivors of domestic violence during their darkest times,” said Kristie Formann-Doser, Executive Director of the Domestic Violence Intervention Program.
"These new housing units will allow us to provide comprehensive support and advocacy, focusing on immediate and long-term safety, empowerment, dignity and hope."
The two projects receiving HOME-ARP Awards include:
The C.A.R.E. Home, Dubuque
Organization: Dubuque Initiatives 1700 LLC
The project will rehabilitate the upper story of two adjacent buildings in Dubuque, located at 1739 and 1763 Central Avenue, to create a total of seven new affordable housing units to rehouse individuals and families in need.
HOME ARP Award:
- Development Funds: $1,004,590
- Supportive Service Funds: $201,664
- Total HOME ARP Award: 1,206,254
Domestic Violence Intervention Program, Iowa City
The Domestic Violence Intervention Program will construct and manage six townhomes for individuals and their families fleeing domestic violence.
HOME ARP Award:
- Development Funds: $1,740,508
- Supportive Service Funds: $608,225
- Nonprofit Operating Funds: $140,000
Total HOME ARP Award: $2,488,733