The Iowa Finance Authority (IFA) has approved more than $4.3 million in grants to assist in the development and preservation of more than 1,600 affordable housing units throughout Iowa.

Funded through the State Housing Trust Fund’s Local Housing Trust Fund Program (LHTF), the grant award leveraged more than $8 million in additional funds, or $1.87 for every dollar of LHTF Program funding, the IFA announced yesterday.

The grants were given to 20 LHTFs to fund initiatives such as subsidizing local down payment assistance programs, providing low-interest loans or grants to assist Iowans in home rehabilitation, financing construction of new single-family housing for low-income Iowans and supporting transitional housing programs.

“The awards announced today will not only provide direct housing assistance to thousands of Iowans, but the funds will also support Iowa neighborhoods, and ultimately boost economic activity,” IFA Executive Director Bret Mills said in a release. “IFA is proud to partner with these Local Housing Trust Funds to provide vital housing resources for some of the state’s most vulnerable residents.”

Polk and Dallas counties are among the recipients.

The Polk County Housing Trust Fund received a $544,778 grant for new affordable housing development through the rehabilitation or construction of multifamily rental units, capital improvements to existing rental and transitional housing, predevelopment financing, technical assistance funding or comprehensive housing needs assessments, operating and supportive housing service expenses and funding for operating and supportive service expenses provided to its nonprofit partner agencies.

Dallas County Local Housing Fund Trust Fund Inc. will use its $146,000 grant to sustain its owner-occupied rehabilitation program for low-income households.