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$52 million Awarded to Iowa Communities including Council Bluffs & Mo. Valley

News

July 8th, 2013 by Ric Hanson

Awards totaling $52 million were announced today for 19 communities across the state, including Council Bluffs and Missouri Valley. The Iowa Economic Development Authority (IEDA) awarded the Community Development Block Grant (CDBG) funds to support 26 multi-family new production projects. The federally funded awards will assist communities to recover housing lost during the catastrophic flooding event of 2008.

In Council Bluffs, the Pottawattamie County Development Corporation received a little more than $2.35-million for the new construction of 36 housing units at 125 West Broadway. And, in Missouri Valley, Longview Townhomes, LLC, received $1.625-million for the construction of 10 new units.

The IEDA received 67 applications for these funds, totaling more than $112.2 million in funding requests. The grants are awarded based on the potential impact of the project, benefit to low- and moderate-income persons, and commitment of developer and local resources to moving the project forward in a timely manner. The Community Development Block Grant program is federally funded through the U.S. Department of Housing and Urban Development (HUD). IEDA is responsible for administering the CDBG funds for disaster recovery.