At the Iowa Finance Authority (IFA) Housing Iowa Conference in Cedar Rapids on September 8, Governor Kim Reynolds announced that Iowa will allocate $100 million in coronavirus relief funds from the federal American Rescue Plan to housing programs.
In her remarks, Reynolds said adding housing is necessary as the state tries to bolster its economic growth case to attract and retain new workers:
"While Iowa has been recognized as the number one state for opportunity, our housing shortage continues to represent a catch. We've seen a growing mismatch between where the job opportunities are thriving and where people can find affordable places to live. This issue requires us to think big and act boldly it's too important to really do anything else."
Reynolds said she expects Iowa to gain almost 50,000 households by 2030 and that while new Iowans are attracted by economic growth, low cost of living, and public safety, families "need to be able to live in the communities where they work, and they just they need a place to call home."
Iowa's new commitment of federal funding to housing programs follows an increase in housing funding the legislature approved during the 2021 session, including to bolster the state's Workforce Housing Tax Credit and increase funding for local housing trust funds.
Use the link below to download a presentation by the Iowa Finance Authority summarizing the new investments, or find complete details at iowafinance.com/arphousingfunds/