IEDA opens housing tax credits program
The Iowa Economic Development Authority (IEDA) began taking applications today for its Workforce Housing Tax Credit program. The $20 million fund, intended to promote the development of housing across the state, is likely to receive nearly $12 million in requests for Des Moines projects that have been recommended by the city of Des Moines. The program makes state tax incentives available to developers building or rehabilitating housing in Iowa. To be eligible for the program, projects must meet one of four criteria:
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Housing development located on a grayfield or brownfield site.
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Repair or rehabilitation of dilapidated housing stock.
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Upper story housing development.
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New construction in a greenfield (community with demonstrated workforce housing needs).
Click here to learn more about the eligibility requirements and available tax benefits. The program application is available online.