Siouxland communities receiving part of $37M in tax credits for housing projects

SIOUX CITY, Iowa (KCAU) — Siouxland communities will be seeing new housing projects starting up after receiving state tax credits.

Gov. Reynolds and the Iowa Economic Development Authority (IEDA) announced Tuesday that more than $37 million in Workforce Housing Tax Credits is being used for developed housing across the state.

The Workforce Housing Tax Incentive Program (WHTIP) provides tax benefits to incent the development of housing across Iowa. According to a press release, the awards will support 62 housing projects that are expected to create more than 2,000 residential units.

“As we grow our state, our housing supply needs to keep up with demand,” Reynolds said. “Iowans who live near their jobs often become more invested in their communities, and that both strengthens local economies and attracts new residents”.

The proposed housing project must meet one of four criteria:

• Housing development located on a gray field or brownfield site
• Repair or rehabilitation of dilapidated housing stock
• Upper-story housing development
• New construction in a greenfield site

According to the Iowa Grant website , the developer must build or rehabilitate at least four 4 single-family units.

In Le Mars, a mix of 100 apartments and townhomes will be built that have access to a playground and dog park, totaling $770,000 in tax credit. In Sioux City, there are four project for 146 units built totaling about $2,840,000 in tax credit.

There are also units being built in Orange City, Rock Valley, Spencer, and Manning. For the list of Workforce housing Tax Credit Awards, click here .

For more program information, visit here .

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