PCHTF awards $953,240 for housing development, improvement
Funds will help support 116 housing units and other projects
The Polk County Housing Trust Fund (PCHTF) has awarded $953,240 in grants and forgivable loans to support the construction, preservation, and success of housing in Polk County. The funds provided to seven area organizations and developers will support an additional 116 units of housing in the community, as well as capital improvement and technical assistance to other housing projects.
“Once again the community submitted a wide range of applications for these grant programs and demand again outstripped the supply of funds,” said Eric Burmeister, executive director of the Polk County Housing Trust Fund. “We are proud to partner with a variety of developers in the community to continue to deliver quality housing the community needs.”
Funding PCHTF announced this month fit within several lines of its grant making plan for housing development known as the Housing Allocation Plan which is approved annually by the organization’s board of directors. Funds for these awards come from the State Housing Trust Fund administered by the Iowa Finance Authority as well as Polk County.
This is the last significant funding announcement for housing construction PCHTF will make in its current fiscal year ending June 30; however, the organization in June will award grants to nonprofits who provide programs and supportive services to people who need housing. The organization summarizes all its housing investments in its annual report.
The latest estimate from the National Low Income Housing Coalition shows Polk County has a shortage of over 10,000 housing units that are affordable and available to extremely low-income households, including a percentage section of the hourly wage workforce, and many seniors and people with disabilities.
“We extend our appreciation to both those who provide the funding support, as well as the grant applicants who envision what is possible when we invest in a better community for all,” said Cole McClelland, recently elected PCHTF Board Chair. “Clearly the need is greater than the resources, but we have great confidence in what is possible through regional collaboration backed by funding that matches with the growing need for housing.”