Gov. Terry Branstad and Lt. Gov. Kim Reynolds today (Friday) announced that the Internal Revenue Service (IRS) has approved the Branstad/Reynolds Administration’s request for a temporary waiver of income restrictions on federal housing tax credit properties throughout the state to assist Iowans who may have been displaced by the Missouri River flooding last summer. The Iowa Finance Authority administers the federal housing tax credit program in Iowa and a listing of properties is available at: www.IowaFinanceAuthority.gov/EmergencyHousing. 

Branstad says “The IRS approval of our request for affordable housing relief means that hundreds of Iowans who may have been displaced by the Missouri River flooding, but may not have been income-qualified to live at a federal housing tax property now have that option.”  Reynolds says “Having adequate housing is at the core of strong families and vibrant communities. By allowing Iowans who have been displaced by the floods access to hundreds of affordable housing properties throughout the state, we’re arming them with a tool that will be vital in their rebuilding process.”  

Eligible Iowans must have resided in one of the five counties that were designated for Individual Assistance by the Federal Emergency Management Agency (FEMA) during the period of May 25, 2011, to August 1, 2011. These counties include: Fremont, Harrison, Mills, Monona and Pottawattamie counties. More than 1,200 Iowans have registered for FEMA Individual Assistance as of December 19, 2011.