The Iowa Finance Authority board of directors recently awarded more than $15 million in federal housing tax credits and HOME program loans to support the construction and rehabilitation of 410 affordable rental homes for Iowans. The awards were made to 11 rental housing projects located in Ames, Burlington, Davenport, Des Moines, Dubuque, Keokuk, Mount Vernon, Sioux City and West Burlington. More than $5 million of the funding in HOME funds were approved to support eight of the projects. IFA distributes Iowa’s allocation of funds from the U.S. Department of Housing and Urban Development HOME program to eligible entities to build and preserve affordable housing. IFA receives an annual per capita allocation of federal tax credits for the Federal Housing Tax Credit program, which IFA allocates to affordable housing developers. IFA had approximately $10 million from the tax credit program available to distribute, and received 24 applications requesting more than $22 million in housing tax credits in the 2023 tax credit round.