Siouxland Housing Projects Get State Funding - News, Weather and Sports for Sioux City, IA: KCAU-TV.com

Siouxland Housing Projects Get State Funding

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By: Tim Seaman
tseaman@kcautv.com

Three Siouxland housing projects got a shot in the arm today.  The Iowa Finance Authority handed out more than $70 million dollars in federal Housing Tax Credits impacting 12 projects and more than 600 housing units.

Thirty affordable units for families or persons with physical or mental developmental disabilities will be renovated at River West Apartments in Milford.  Two projects in Storm Lake received funding.  42 new units are planned as part of the 10th Street Townhomes and another 31 units will be built as part of The Reserves at Storm Lake. 

Gov. Terry Branstad says seniors, students and families in Iowa need more affordable housing options. The Finance Authority is responsible for giving federal housing tax credits to developers. Developers sell the credits to investors to raise funding for their projects. The Finance Authority received 38 applications for the credits. The awards total about $7 million in credits per year for ten years.

 

 

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