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Iowa Finance Authority announces Thriving Communities program

Editor's note: The following message was distributed by the Iowa Finance Authority. We are sharing it here because it may be of interest to some of our community partners who receive our communications.

It's no secret that housing is the start for upward economic opportunity and that families, communities and businesses will thrive when all Iowans have access to homes they can afford.

The state is estimated to need an additional 42,000 homes by 2030 to meet the demands of our robust economy. Meeting this need is going to require a strategic, proactive and innovative effort to ensure that all Iowans have the opportunity to live in the communities where they work.

This is why the Iowa Finance Authority (IFA) and the Iowa Economic Development Authority (IEDA) are seeking to elevate best practices from communities that are going above and beyond to leverage innovative methods to attract housing development for their workforce.

IFA and IEDA are pleased to introduce the first of its kind, Iowa Thriving Communities designation, which will provide communities with a chance to be recognized for their efforts.

A limited number of communities will be awarded the new prestigious designation, which comes with lucrative scoring points for the Federal Housing Tax Credit and/or Workforce Housing Tax Credit programs, meaning that developers will be highly incentivized to select an Iowa Thriving Community for a proposed development through the 2024 programs. Iowa Thriving Communities will also serve as statewide community models for welcoming housing development for all Iowans.

Iowa Thriving Community applications are being accepted now through July 17.

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