DES MOINES - The Iowa Finance Authority Board of Directors today awarded a $50,000 State Housing Trust Fund grant to the Greater Des Moines Habitat for Humanity, doing business as Dallas County Habitat for Humanity, to support the construction of a home in Perry. The funding is made available through the State Housing Trust Fund’s Project-Based Housing program. The program provides financing for the development of affordable single-family and multifamily housing units.
“The State Housing Trust Fund is a vital resource to assist in bridging funding gaps and leveraging local contributions for many important housing projects throughout the state,” said Iowa Finance Authority Interim Executive Director Carolann Jensen. “The Iowa Finance Authority proudly works with Habitat for Humanity affiliates to help the goal of homeownership become a reality for hard-working Iowans,”
Habitat for Humanity of Dallas County will use the $50,000 State Housing Trust Fund grant to assist in the financing of construction costs of a single-family home in Perry. The ranch style home will include approximately 1,330 square feet of finished living space with a minimum of three bedrooms and one bathroom. The home will also include a full basement and detached storage shed.
The Habitat partner family that purchases the home will receive financial, home repair, homeownership and foreclosure prevention education and must complete the required sweat equity hours prior to closing on the home.
“This State Housing Trust Fund grant is a key piece of funding that will help to make this home a reality for one Perry family,” said Greater Des Moines Habitat for Humanity Executive Director Lance Henning. “We thank the Iowa Finance Authority for their long-standing partnership in creating affordable homeownership opportunities for Iowans.”
The State Housing Trust Fund has awarded more than $70.7 million in funding and has assisted more than 25,200 affordable housing units since the program’s inception in 2003. These awards have leveraged an additional $156.5 million or $2.21 in other resources for every dollar of State Housing Trust Fund funding.
The Iowa Legislature created the Iowa Finance Authority, in 1975 to undertake programs to assist in the attainment of housing for low- and moderate-income Iowans. Since then, the Iowa Finance Authority’s role has grown to include nearly 40 affordable housing, water quality and agricultural development programs.