DES MOINES – The Iowa Finance Authority Board of Directors today awarded a $50,000 grant to Warren County Habitat for Humanity to support the construction of a single-family home in Indianola. The funding is made available through the State Housing Trust Fund’s Project-Based Housing program.
“The Iowa Finance Authority is proud to work in partnership with Warren County Habitat for Humanity on our shared mission of advancing housing opportunities for Iowans,” said Iowa Finance Authority Director Debi Durham.
“THE AWARD GRANTED TODAY WILL HELP YET ANOTHER FAMILY REALIZE THEIR DREAM OF BECOMING HOMEOWNERS WHILE PROVIDING BENEFITS TO THE GREATER INDIANOLA COMMUNITY FOR MANY YEARS TO COME.”
The new ranch-style home will include approximately 1,150 square feet of finished living space with three bedrooms and two bathrooms, an unfinished basement and garage on the property. The Habitat partner family purchasing the home will receive financial, home repair, homeownership, and foreclosure prevention education and must complete the required sweat equity hours prior to closing.
“The State Housing Trust Fund is a critical financing source for meeting local housing needs,” said Agi Gavin, Warren County Habitat for Humanity Executive Director. “This grant will support the construction of a new home for a deserving local family in need and will also move the demolition of an inhabitable home on the property forward. This project is a great example of the funding helping us both restore available housing stock in our region and providing a fresh start for one family.”
The State Housing Trust Fund has awarded more than $112 million in funding and has assisted more than 36,800 affordable housing units since the program’s inception in 2003. These awards have leveraged an additional $176.5 million, or $1.57 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.
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