Polk County has announced the allocation of $10.2 million in federal funding for projects creating affordable housing units at 50% of the average median income or below. The board’s actions mark the final steps in distributing Emergency Rental Assistance 2 funds to community organizations that will develop affordable rental housing units. This funding allows the county to create or restore over 400 affordable housing units, according to Polk County board chair Matt McCoy. “Access to affordable housing is one of the greatest challenges facing communities, and Polk County is proud to leverage these federal dollars to create more affordable housing solutions,” McCoy said in a prepared statement. Some of the projects the funding will support include:

• Homes of Oakridge will preserve and restore roughly 300 units and enhance security for the neighborhood’s 700 residents;
• Joppa will create additional units for its tiny village community providing housing support to those experiencing homelessness; 
• The Beacon will fund affordable housing for women

Since 2021, Polk County received over $62.2 million in Emergency Rental Assistance 2
federal funding as part of the American Rescue Plan Act of 2021 and earned $3.3 million in
interest earnings on ERA2 funds held in reserve. Seventy-five percent of the federal funding was distributed for housing stability services and direct rental financial assistance to keep families in their homes with the remaining funds set aside for affordable rental housing purposes.