Two housing projects in southwest Iowa are among 19 from across the State to be awarded a share of nearly $10-million in Iowa Economic Development Authority funds Workforce Housing Tax incentive projects across the state. Included among them is:

• The Clarinda Housing Program – four, single-family attached, owner-occupied homes. The project was awarded $142,800 for funding year 2021.
• The Denison Housing Development Phase 1 (b) and 1 (c) project. – Also for four, single-family attached, owner-occupied homes. The award was in the amount of $129,004.

IEDA’s Workforce Housing Tax Credit (WHTC) program provides tax benefits to developers to provide housing in Iowa communities, focusing especially on those projects using abandoned, empty or dilapidated properties. To be eligible for funding, projects must:

• Meet one of four criteria: housing development on a brownfield or grayfield, upper story housing or rehabilitation, dilapidated housing stock or new construction in greenfield space
• Include construction or rehab of at least two single-family homes or at least one multi-family building containing three or more units or at least two upper story units
• Total project costs for projects under the Small Cities Set Aside may not exceed $215,000 per unit or $250,000 for historic rehabilitation
• Complete within three years of award
• Be located in one of the 88 least populous Iowa counties

For the fiscal year 2021 application round, $10 million dollars in credits were available for award under the WHTC program’s Small Cities Set Aside component. IEDA received 84 applications requesting $34 million in tax credits. Projects are scored competitively based on readiness, financing, need, and local support and participation.