DES MOINES – The Iowa Finance Authority (IFA) Board of Directors recently awarded a total of $50,000 in State Housing Trust Fund grants to Habitat for Humanity of North Central Iowa to support the construction of two single-family homes in Mason City. The funding is made available through the State Housing Trust Fund’s Project-Based Housing program.
“IFA’s long-standing partnership with Habitat for Humanity affiliates under the project-based housing program has assisted more than 100 iowa families in achieving their dreams of homeownership,” said IFA Director Debi Durham.
“The awards announced today will assist two families in not only opening the door to homeownership but also to upward economic mobility, wealth creation and pride of ownership.”
Habitat for Humanity of North Central Iowa, Mason City – $50,000
The Habitat for Humanity of North Central Iowa will use two $25,000 State Housing Trust Fund grants to assist in the construction of two single-family homes on infill lots in Mason City. Both Habitat for Humanity homes will be sold to income-qualified homebuyers who will receive financial, home repair, homeownership and foreclosure prevention education and must also complete the required sweat equity hours prior to closing on the homes.
“We are honored to receive this generous support from the Iowa Finance Authority through the State Housing Trust Fund program,” said Habitat for Humanity of North Central Iowa Executive Director Melissa Schoneberg. “This marks a significant milestone in our mission to build homes and empower families to achieve their dreams of homeownership in the community.”
The State Housing Trust Fund has awarded more than $112 million in funding and has assisted more than 37,600 affordable housing units since the program’s inception in 2003. These awards have leveraged an additional $176.8 million or $1.57 in other resources for every dollar of State Housing Trust Fund funding.