Governor Announces Monumental Investment in Housing

September 9, 2021

This week, Iowa Gov. Kim Reynolds declared she would invest $100 million of American Rescue Plan Act (ARPA) funds into a number of programs aimed at expanding housing options in Iowa. The governor indicated that with this announcement, Iowa will have allocated $330 million over the next five years to address the state’s shortage of housing. Here’s the breakdown:

  • $45 million for the federal housing tax credit program
  • $20 million for the workforce housing tax credit program
  • $20 million for the downtown housing grant program
  • $10 million for Homes for Iowa
  • $4 million for the home repair block grant pilot program and
  • $1 million for the minority homebuyer down payment assistance pilot program. 

You can find more details about the programs and how to apply here.