DES MOINES, Iowa (AP) — A House Republican leader says Iowa lawmakers will need to make deep cuts to the budget next year, but he did not elaborate. House Appropriations Committee Chairman Pat Grassley, of New Hartford, says Wednesday that Republicans will base their budget priorities for the fiscal year beginning in July on roughly $7.35 billion in current revenue projections estimated by state experts. He says that’s about $175 million in new revenue.

Grassley says his data show Iowa is facing hundreds of millions of dollars in expected new costs, so “tough decisions” will be needed. He says he can’t elaborate on potential cuts until a final revenue projection is issued. Lawmakers are expected to debate again over supplemental aid for K-12 schools. Grassley says Republicans are still meeting over what amount to support.

Police in Council Bluffs arrested a 25-year old man following an attempted traffic stop, pursuit and crash, Wednesday morning. Officials say Ryan M. Knight, of Council Bluffs, faces charges that include Theft in the 2nd degree, felony eluding, reckless driving, speeding, no driver’s license and no registration. The vehicle he was driving was later reported to have been stolen from the Ameristar Casino.

Ryan Knight

The incident leading to Knight’s arrest began at around 9:23-a.m., when a Council Bluffs Police Officer observed a green Honda Accord near the area of I-29 and North 25th street. The vehicle entered I-29 SB at an extremely high rate of speed. The officer was able to catch up to the Accord, checking its speed on radar at 95 mph in a 55 mph zone. The officer activated his emergency lights and siren and the vehicle failed to stop, while passing a car on the right shoulder.

The vehicle entered I-480 westbound toward Omaha and the officer shut down his emergency equipment and discontinued the pursuit. The vehicle continued at a high rate of speed and as the officer was exiting at 10th street, he witnessed the vehicle crash into the guardrail west of the 10th street exit. As the officer approached the area of the crash, the suspect (Knight) ran from the vehicle on foot. He crossed the EB lanes of I-480, ran down the on ramp to the area of 8th and Douglas Street where he was taken into custody by the Council Bluffs Officer.

Omaha police responded and arrested Knight.

The Iowa Finance Authority Board of Directors today (Wednesday), approved a total of more than $6.3 million in grants to 27 Local Housing Trust Funds to support local affordable housing initiatives which will assist 2,469 Iowa families. The funding is provided from the State Housing Trust Fund’s Local Housing Trust Fund program.

The grant funds will be used for initiatives such as preserving aging housing stock, subsidizing local down payment assistance programs, providing low-interest loans or grants to assist Iowans in home rehabilitation, financing construction of new single-family housing for low-income Iowans and supporting housing for persons with disabilities and homeless assistance programs.

Among the grant recipients is:

• the Council Bluffs Housing Trust Fund, Inc., which received $152,788.
• CDG Housing, Inc., which serves Audubon, Carroll, Crawford, Greene, Guthrie and Sac Counties, received a grant for $243,339.
• the Southern Iowa COG Housing Trust Fund, Inc., serving Adair, Adams, Madison, Ringgold, Taylor, Union and Clarke Counties, received a $236,394 grant.
• the Southwest Iowa Housing Trust Fund, Inc. – serving Cass, Fremont, Harrison, Mills, Montgomery, Page, Shelby and Pottawattamie Counties (excludng the City of Council Bluffs), received a grant amounting to $301,439.

IFA Executive Director Dave Jamison says “The partnership between the Iowa Finance Authority and Local Housing Trust Funds is one that pays dividends to affordable housing in Iowa. The grants announced today are leveraging an additional $2.7 million in local contributions, which is a testament to the shared commitment to meeting these vital housing needs.”

The State Housing Trust Fund was created by the Iowa Legislature in 2003. Since its inception, the program has provided $50.1 million in affordable housing assistance that has benefited more than 17,600 Iowa families. This funding has leveraged another $151.2 million in other funds or $2.68 for every dollar of State Housing Trust Fund investment.

DES MOINES, Iowa (AP) – A report says Iowa’s largest public employees’ pension fund has a long-term shortfall of about $5 billion. The Des Moines Register reports that Gov. Terry Branstad was briefed Tuesday on the status of the Iowa Public Employees’ Retirement System (IPERS), which has 346,000 members. The report says the pension fund’s assets total about $28 billion and is nearly 84 percent funded, slightly up from a year ago.

The system serves current, former and retired employees of state government, cities, counties and school districts. The contribution rate by local government and state public employees to the main pension fund has increased in recent years to almost 15 percent of an employee’s earnings.

Donna Mueller, the fund’s chief executive officer, says the report shows progress and stability. Mueller said the system’s $5 billion in unfunded liabilities could be paid off in 23 years.