(KCRG) The Iowa Finance Authority awarded more than $12.5 million to communities statewide to address local housing needs. Cities and counties can use the funds to address homelessness, help first-time homebuyers, rental assistance, and more. According to our coverage partners KCRG, the City of Dubuque received $250,000 to help low-to-moderate-income homeowners rehabilitate where they live. The city offers loans of up to $25,000 with zero percent interest to people who live at, or under, 80 percent of the area median income. Monthly payments through the city’s loan program are up to $60 per month, except for homeowners who make 30 percent of the area median income. In those cases, the loan is due when the home is sold. The $12.5 million in awards announced by the IFA are helping 27 Local Housing Trust Funds, expected to assist 2,636 families.
