State Housing Trust Fund
Project-Based Housing Program
About the Program
This program offers reimbursement of eligible construction costs for several project types including new construction; rehab of existing housing to serve Extremely Low-Income homebuyer; and acquisition or adaptive reuse projects to develop new affordable housing opportunities. Affiliates may apply for more than one project but may receive no more than $50,000 in SHTF grants within one calendar year. A grant application must be submitted and approved by the Iowa Finance Authority before the project can commence. Eligible homebuyers at or below 80% AMI must be selected prior to grant application. This program assists affordable housing projects not eligible to receive funding under a Local Trust Fund’s Housing Assistance Plan; not all affiliates will qualify for this grant. Funds are set aside on a fiscal basis and are available on a first-come, first-served basis. Once funding is approved, Habitat Iowa will charge a service fee calculated at 10% of the award amount.
Important notes about this program:
Projects built in cities and counties without approved code enforcement entities must work with the Iowa Building Code Bureau to approve plans and complete required inspections
All subcontractors who work on these projects must be current on the Iowa Contractor Registration list
All receipts used for reimbursement purposes must clearly show the project address/name and the date of purchase
Program funds must not exceed 75% of the total project budget, excluding administrative and developer fees
Who to contact
Contact Christine Hall at 515-266-6886.