Record Allocation for the PCHTF

Over $2.5 million to make housing affordable in 2014/15

Record Allocation for the PCHTF

The Polk County Housing Trust Fund’s Board of Directors adopted a budget at its annual public meeting on June 6 that allocates $2.562 million to affordable housing inventory development, preservation and supportive services in Polk County.  The record allocation was due in part to an increase in funding available from the State Housing Trust Fund, administered by the Iowa Finance Authority.

Three hundred fifty thousand dollars was allocated to Anawim Housing, Central Iowa Shelter and Services, Greater Des Moines Habitat for Humanity, HOME, Inc., Mainstream Living (Unity Place), The Home Connection and The Oakridge Neighborhood for programs that assist households in obtaining and retaining affordable housing.

The Board adopted a Housing Allocation Plan of $2.15 million that targets inventory production for rental units affordable to households that make less than $15,000.00.  Many of these households are headed by minimum wage earners. 

In addition to affordable rental units, money was earmarked for development of single family homeownership opportunities and to repair homes owned by low income individuals.

Unique to the 2014/15 year is a special earmark of at least $250,000.00 to be used in the three “east bank” neighborhoods that are the target of attention in the community’s Urban Core initiative and the location of a pending request for a Wells Fargo Priority Market Grant.

A copy of the PCHTF 2014/15 Housing Allocation Plan can be found HERE.