Iowa Governor Terry Branstad and Lt. Gov. Kim Reynolds said today (Monday), that eligible Iowans can now buy a home and reduce their federal income tax liability by up to $2,000 a year for the life of their mortgage through the Take Credit mortgage credit certificate program administered by the Iowa Finance Authority. Approximately 780 home buyers are expected to benefit from the program in 2016, which is now available for new purchases through a network of lenders throughout the state.

The program provides eligible home buyers with a tax credit against their federal income tax liability every year for the life of their mortgage. Eligible homeowners may take fifty percent of their annual interest paid on the mortgage loan, up to a maximum of $2,000 per year, for up to 30 years. The remaining mortgage interest may be taken as a deduction from taxable income if the home buyer itemizes.

Eligibility for the Take Credit Program requires home buyers to meet household income and purchase price limitations and meet the definition of a first-time home buyer. The federal income limits vary by county and household size, currently ranging from $67,500 to $115,220 per year. A purchase price limit of $258,000 applies statewide with the exception of federally Targeted Areas where the limit is $316,000. A first-time home buyer is defined as someone who has not owned their primary residence in the past three years but also includes home buyers purchasing in a federally Targeted Area and qualified veterans who have not used tax exempt mortgage financing previously.

Iowa Finance Authority Executive Director Dave Jamison said “Interested home buyers can apply for a mortgage credit certificate through a Take Credit Participating Lender as part of their financing process. Home buyers will need to have approval of the mortgage credit certificate before they close on a home so they should ask their lender about this opportunity early in the application process.”

After an eligible, pre-approved homeowner has closed a mortgage loan with an IFA Take Credit Participating Lender, IFA will issue the homeowner a mortgage credit certificate. The homeowner in turn may apply the credit against their federal income tax liability on an annual basis for the life of their mortgage. The credit may be claimed on IRS Form 8396.

More information is available at IowaFinanceAuthority.gov/TakeCredit.

The Union County Sheriff’s Office reports a man from Adams County was arrested Sunday evening on a Taylor County warrant for Possession of a Controlled Substance. 45-year old Randy Allen Etheridge, of Corning, was arrested at the Union County Law Enforcement Center, and later transferred to the Taylor County Jail.

The Wellmark Foundation has announced 13 Iowa organizations as recipients of its 2015 Matching Assets to Community Health (MATCH) grant program. The 13 grants amount to a total of $824,805, and are designed for plans to develop, implement and enhance local wellness and prevention projects with an emphasis on promoting active living and built environment and increasing access to and consumption of nutritious foods.

Among the grant recipients who were able to raise the necessary matching funds, was the City of Manning, which received a $75,000 grant for its Hospital Connector Trail Bridge. The Manning Regional Healthcare Center opened a new hospital, clinic and recovery center on the edge of Manning in May 2014 to replace a previous downtown facility. That created a very strong need for additional trails, so patients, visitors and employees could have pedestrian access to health care. In addition to the pedestrian transportation benefits, the trail will be used by many for active lifestyle and recreational purposes as it ties into a popular, existing trail, built in 2014.

This was the third year that The Wellmark Foundation offered the MATCH grant program.

The Creston Police Department reports a teen was referred to Juvenile Authorities Friday morning, on a charge of Harassment in the 1st Degree. 16-year old Timothy Kohl, of Creston, was then released to the custody of his mother.

And, early Saturday morning, 29-year old Ryan M. Weis, of Creston, was arrested at his home on a charge of Domestic Abuse Assault. Weis was being held in the Union County Jail while awaiting a bond hearing.