Polk County Housing Trust Fund

We Make Housing Affordable.

Our grants and programs to leverage the creation of more affordable housing in and around Polk County.

Frequently asked questions about development grants

Who is eligible to apply for development funding?
For-profit housing developers, non-profit housing developers, and governmental entities may apply for funding.
 
How do these entities apply for development funding?
The PCHTF publishes a Request for Proposal (RFP) and application that invites for-profit developers, not-for-profit developers and governmental entities to apply for funding to create affordable housing units.  Application dates for 2007 have not been set.  Please check back with this Web site frequently, or call the PCHTF office for further information regarding application dates.  Eligible activities under this RFP process include:  new construction single-family homeownership or multi-family rental units, rehabilitation or renovation of existing buildings to create new homeownership or rental housing units, rehabilitation of existing rental units, and owner-occupied repair of existing single-family units. There is a different RFP for each type of housing project.  To make sure that you have the correct RFP, contact our office at 515-282-3233.

Are there limitations on the amount for which you can apply ?
Yes, $250,000 maximum per project.

Maximum level of assistance per unit as follows:

% of Median Family
Income
Max. Assistance
Available Per Unit
Required
Affordability Term
Single-Family Homes    
  80% MFI or below $12,500 10 Years
  60% MFI or below $25,000 10 Years
Larger Single-Family Units  
   
50% MFI or below  
Additional $12,500
10 Years












% of Median Family
Income*
Number of
Bedrooms
Max. Assistance
Available Per Unit
Multi-Family Rental
(4 or more units)
   
30% MFI or below 1-3 $37,500
50% MFI or below
1-2 $25,000
  3 $30,000
80% MFI or below 1-2 $12,500
  3 $17,500


 

 * To be funded by the PCHTF, one-half of the units in a multi-family housing project must be affordable to 80% of MFI and below. PCHTF dollars may only be used for subsidy for affordable housing units.

 
What does "Required Affordability Term" refer to?

To be eligible to receive funding the developer or governmental entity must ensure that the project will remain affordable to the low-income family for the length of time listed.  This must be documented in a way acceptable to the Trust Fund.
 
Is there a leverage match required to receive Trust Fund dollars?

Yes, depending upon the type of project for 2006-2007.  1.  Single-Family Homeownership - A 1:1 Leverage Match of other funding of the requested amount is required.  2.  Multi-Family Rental - A 1:4 Leverage Match of other funding of the requested amount is required.  3.   Capital Improvement of Existing Rental - A 1:3 Leverage Match of other funding of the requested amount is required.  4.  Owner Occupied Repair - A 1:1 Leverage Match of other funding of the requested amount is required. The required match may change in a given year, depending on priorities and other funds available.

 
How do we appeal a funding decision?

Please click on this link to the PCHTF Appeal Policy.

EMPLOYMENT OPPORTUNITY

The Trust Fund is presently seeking applicants for a newly created position:Polk County Housing Continuum Coordinator. Click more for position description and contact information.

Affordable Housing

For more information on Affordable Housing in Polk County, click on About Us, then Publication Archive.

Are you struggling to pay your mortgage?

For assistance, please contact Iowa Mortgage Help at 1-877-622-4866 or click on http://www.iowamortgagehelp.com.

2009 Development Schedule is now available.

Click here for the 2009 Notice of Funding Availability (NOFA).

PROJECT RECOVERY IOWA

Click here to learn more about Project Recovery Iowa, a disaster mental health program to empower survivors and guide them to resources.

Need Housing Assistance?

If you need help finding affordable housing please call 2-1-1 or click on http://www.211iowa.org.