(Radio Iowa) – The State of Iowa has recently distributed 770-million dollars in grants and tax credits for housing developments that will yield an estimated 10-thousand homes and apartment units in the state. Governor Kim Reynolds says there’s never before been that many publicly-funded housing units under development in Iowa.

“Housing is so much more than just four walls and a roof. It’s the foundation of a growing workforce and an unmatched quality of life and a thriving local economy,” Reynolds says. “Housing is the start of stronger communities and a more prosperous future for our entire state.” State officials say the bulk of the investment is 632 million dollars worth of federal tax credits awarded for Iowa housing projects over a ten-year period.

Debi Durham is director of the Iowa Economic Development Authority and the Iowa Finance Authority, which provides low income Iowans assistance on homes and rentals. “We often say, ‘Housing is the start,’ because a safe, stable home is where so many stories begin,” Durham said. “Our work helps to craft these diverse stories whether it’s a family finding stability, a young couple moving into their very first rental or a life-long renter purchasing their first home.”

Governor Kim Reynolds speaks at Housing Iowa Conference on Sept. 4, 2024. (RI photo)

About 80 million in state tax credits have been awarded for new construction or rehabbed housing in communities where there’s a shortage of homes and apartments for people who work in the community. Another 16 million is supporting the creation of new housing options in the downtown areas of Iowa cities with a population under 30-thousand. The National Housing Trust Fund also has awarded 11 million dollars in Iowa to produce or preserve rental units for low income residents.