The Iowa Finance Authority has awarded federal Housing Tax Credit and HOME program awards to 13 affordable rental projects totaling more than $83.7 million to build and preserve 523 affordable housing units in Polk County and eight other Iowa counties. The IFA board awarded $7.8 million in tax credits that are committed annually for 10 years, amounting to a total commitment of $78 million. The tax credits provide a dollar-for-dollar reduction to the investor’s federal tax liability on ordinary income. The board approved $4.9 million in state HOME funds. MLK Crossing Senior Apartments at 2455 Martin Luther King Jr. Parkway received $697,176 in tax credits for 50 units. A revolving loan fund of $631,095 also was established. Southridge Senior Lofts on Army Post Road in Des Moines received $794,188 in tax credits and a $350,000 revolving loan fund for 46 units. Canterbury Heights at 755 N.E. 56th St. in Pleasant Hill was awarded tax credits of $779,858 for 55 units.