Iowa awards $29 million in housing and disaster recovery funds
May 13th, 2010 - 6:23 am ICT by BNO NewsDES MOINES, IOWA (BNO NEWS) – Iowa awarded a $29 million housing fund to 47 recipients through the Community Development Block Grants (CDBG) and the HOME Investment Partnership Program (HOME), Governor Chet Culver announced on Wednesday.
Culver also announced nine additional awards that received funding as part of the $516.7 million in CDBG Disaster Recovery Funds announced last October. The CDBG funds from the U.S. Department of Housing and Urban Development were received by the Iowa Department of Economic Development (IDED).
The $29 million will be used in various housing projects in Des Moines, Redfield, Postville, Mason City, Fayette, Carroll, among others. The projects range from rehabilitation of senior homes or family units to the assistance for first time homebuyers. It will also be used for the construction of apartment buildings and complexes.
“These projects support the foundation of Iowa communities through safe and affordable housing, which is a necessary component for vital communities. This is another resource that is part of our effort to move Iowa forward,” Culver declared.
The CDBG program works to ensure decent affordable housing, to provide services to the most vulnerable citizens in the Iowa communities. It also intends to create jobs through the expansion and retention of businesses.
The HOME program helps to expand the supply of affordable housing for low- and very low – families by providing grants or loans to local governments or developers. Such money is used to fund housing programs that meet local needs and priorities.
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