Iowa Finance Authority Awards nearly $4 million for Housing Project in Sioux City

(DES MOINES) - The Iowa Finance Authority (IFA) recently awarded the City of Sioux City nearly $4 million to assist in the development of 17 rental homes for individuals and families experiencing homelessness. The funding is made available through the National Housing Trust Fund program.

"Housing for the state's lowest-income earners is one of our greatest housing challenges," said IFA Director Debi Durham. "This project will directly meet that need by offering permanent supportive housing to many individuals and families in Sioux City."

The City of Sioux City will use the grant funds for the development of Midtown Terrace, which will include a total of 24-units and will be a rowhouse-style development that includes parking, greenspace and onsite case management. The 17 rental homes funded through the National Housing Trust Fund will be targeted to individuals and families experiencing homelessness using a Housing First permanent supportive housing model. The project is slated to begin construction in 2025 and be complete in 2026.

"The need for permanent supportive housing has been identified as a strategic need in our community due to the number of high needs individuals and families experiencing homelessness.," said Jill Wanderscheid, Neighborhood Services Manager with the City of Sioux City.

"This project is the first step in bridging this gap. The project will also act as a catalyst for neighborhood investment as this portion of the city has not seen significant investment in a number of years."

The National Housing Trust Fund is a housing production program that complements existing federal, state and local efforts to increase and preserve the supply of decent, safe, and affordable housing for HUD-defined extremely low-income households, including families experiencing homelessness. The program is administered by HUD at the federal level and by IFA at the state level.

More information about the National Housing Trust Fund is available at iowafinance.com.

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