Rural Housing and Economic Development 1999 Grants

PROJECT SUMMARY: IOWA

MidAmerica Housing Partnership Inc., in Cedar Rapids, IA, will receive a Rural Housing and Economic Development Grant in the amount of $500,000 to build 120 affordable housing units over the next three years. This project will build single family homes by creating a $350,000 rural construction pool fund (for communities evidencing a 25 percent match) and pioneering alternative building methods using renewable resources. The applicant will construct two modified post and beam straw bale houses in a workshop setting. This program will serve 17 counties in Eastern Iowa: Poweshiek, Iowa, Washington, Benton, Buchanan, Cedar, Delaware, Jasper, Jones, Keokuk, Lee, Louisa, Mahaska, Marion, Van Buren, Linn and Clinton. The project leverages over $10,000,000 in other funding. Several of the key partners include USDA, a local utility provider, the EcoYouth Program, Morgan Consulting and Construction, the Fannie Mae Foundation and Corporation, the Iowa Finance Authority and Councils of Government.

Contact Person: Mary Schoen-Clark
Grantee Address: 701 Center Point Rd., NE, Cedar Rapids, IA 52402
Phone Number: (319) 365-3501

Iowa Finance Authority, in Des Moines, IA, will receive a Rural Housing and Economic Development Grant in the amount of $600,000 to develop affordable single-family homes in rural areas around Iowa. Specific activities include establishing a construction loan guarantee fund, a gap fund in the form of forgivable second mortgages, and financial assistance with land acquisition, site clearance and demolition costs. In-kind leveraging and financing resources total $8,000,000 in support of this program. The key participant is USDA Rural Development.

Contact Person: Darlene M. Jeris, Executive Director
Grantee Address: 100 East Grand, Suite 250, Des Moines, Polk County, IA 50309
Phone Number: (515) 242-4990

Content Archived: January 20, 2009