With the 2009
Housing Fund awards, greater emphasis was placed on housing activities
and projects that produce greener and more sustainable housing. Sustainable housing
improves the quality of life for owners, tenants and homebuyers benefiting from
these funded activities and projects, as well as the communities in which they are
located. The IDED offered a variety of technical assistance, training opportunities
and resources to promote green and sustainable building practices.
In 2009, the IDED received 105 applications for the IDED’s Housing Fund totaling
over $42 million. The IDED was able to fund 47 of the 105 applications received.
The grand total of the IDED’s 2009 Housing Fund awarded was $19,548,950.
The breakdown of applications received and awards made, by activity type, is as
The Community Development Division administers funding from the U.S. Department of Housing and Urban Development (HUD) through the HOME Partnership (HOME) program. The Community Development Division combines HOME and CDBG funds into the Iowa Housing Fund. Housing Fund provides assistance through local governments, non-profits and other entities to provide affordable housing on a large scale across the state. View the Searchable Project Portfolio.
The Housing Enterprise
Zone program has helped to create over 9,600 Housing Units in the State’s
Enterprise Zones since the start of the program in 1998. Developers and contractors
building or rehabilitating housing in an established Enterprise Zone (40 eligible
counties and 19 eligible cities) may be eligible to receive certain state tax incentives
under this program. Applications are first approved by the local enterprise zone
commission then submitted to the IDED for final approval. Projects have a two year
completion date and can receive a refund of State sales tax paid as well as an investment
tax credit for up to 10percent of eligible project costs. The IDED works closely with
the Department of Revenue and the Local Enterprise Zone Commissions to administer
this program. FY ’09 accomplishments include:
The Housing Enterprise Zone program provides developers and contractors building or rehabilitating housing in an established Enterprise Zone with eligibility to receive certain state tax incentives. View the Searchable Project Portfolio.