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IEDA announces $29.8M in tax incentives for 49 housing projects

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The Iowa Economic Development Authority has awarded nearly $30 million for housing projects statewide. In all, 49 projects received funds from the Workforce Housing Tax Incentive program, which provides incentives to developers to build housing in Iowa communities. Included in the $29.8 million that was announced today was $12 million from the Small Cities Set Aside program, which is available to communities in the state’s 88 least populated counties. Among the projects receiving those tax credits are a conversion of the old Jefferson High School into apartments, the renovation of the Irish Hospital in Forest City into apartments, the conversion of the old Winterset High School into affordable housing units, and the rehabilitation of a historic building in De Witt for 53 apartments. Several Des Moines projects also were awarded funding, including the Tree House multifamily residential project, the Dog Town construction project, the Urban Campus Apartments construction project, and the 3524 Sixth Avenue historical rehabilitation project. The Junction Development LLC project in West Des Moines also was awarded funding. For the 2022 funding cycle, IEDA received  137 applications requesting $85.9 million in tax credits.