July 27, 2022
Workforce Housing Tax Credits assist construction or rehabilitation of housing in communities with workforce housing needs.
The program provides tax benefits to developers to provide housing in Iowa communities, focusing especially on those projects using abandoned, empty or dilapidated properties.
- Projects must meet one of four criteria:
- Housing development located on a grayfield or brownfield site
- Repair or rehabilitation of dilapidated housing stock
- Upper story housing development
- New construction in a greenfield (only communities or a project qualifying under the Small Cities set aside)
- Developer must build or rehabilitate at least four single-family homes or at least one multi-family building containing three or more units or at least two upper-story units
- This program has a per unit cost cap to ensure units created under the program are working housing (check the link to see current project cost caps)
- The housing project must be completed within three years from the date of award
See full aplication and qualification details on the IEDA website.