Capacity Building
As a qualified Local Housing Trust Fund under the applicable provisions of the Iowa Code the Trust Fund is able to receive government monies to invest in bricks and mortar projects that add or retain affordable housing units in Polk County. This year the PCHTF received over $2 million from Polk County and the State Housing Trust Fund to deploy toward building or rehabilitation of projects in the area.
The Trust Fund operates as a “last dollar” funder. Through low interest or forgivable loans the PCHTF is able to leverage its funds on an average ratio of 1:18. That is to say for each dollar the Trust Fund contributes to a project eighteen additional dollars are contributed from other sources. Using public dollars in this fashion is an efficient and economic way to provide affordable housing.
As a trustee of these public funds, each year the PCHTF prepares a Housing Allocation Plan. Relying on the knowledge of its independent Board of Directors and experts from the community, substantial time is invested making sure that current and anticipated housing needs are being met by both non-profit and for-profit housing developers working in Polk County. Using the allocation of its dollars the Trust Fund is able to make certain that the community’s needs are met and vision fulfilled.
