Des Moines rental development receives $3.62 million state grant
Iowa Finance Authority awards more than $15 million in grants to support housing, assistance for homeless
A Des Moines rental development has received grant funding from the Iowa Finance Authority (IFA) to aid in housing development and supportive services for people experiencing homelessness or who are at risk of becoming homeless.
Hatch Development Group received $3.62 million for the development of 18 rental units with supportive services at the former Hope+Elim Church site in Des Moines, according to a news release. The award includes $2.5 million for development costs, $750,000 in supportive services funds, $187,500 for nonprofit operations and $187,500 for nonprofit capacity building. The project is in partnership with Starts Right Here and Perennial Properties.
IFA also awarded $5.95 million to in grants to 30 homeless services agencies for a total of nearly $10 million. Other recipients in Central Iowa are Anawim Housing, Central Iowa Shelter and Services and Impact Community Action Partnership. The full list of recipients is available here.
The funding was available through the federal HOME-American Rescue Plan (ARP) program. IFA was designated approximately $29 million in HOME-ARP funds in a one-time allocation, according to a news release.
The Iowa Finance Authority board of directors also approved more than $5.7 million in grants to assist 48 organizations with homelessness assistance initiatives this year.
“The homelessness assistance awards … will have a direct impact in helping thousands of Iowans in their time of need,” Debi Durham, director of the Iowa Finance Authority, said in a prepared statement.
The funding was available through the federal Emergency Solutions Grant program, the state-funded Shelter Assistance Fund and the federal Housing Opportunities for Persons with AIDS program.
The Iowa Finance Authority conducted application processes for the ESG and SAF programs, while HOPWA funding was distributed by a formula based on Iowa Department of Public Health data. Applications were scored in several categories, including project design, experience and capacity, community partnerships, performance, budget and grants management.
To view the full list of recipients, click here.