Iowa Finance Authority rewards tax debt for local housing | Local News

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  Iowa Finance Authority rewards tax debt for local housing |  Local News

Cottage Bluff, located in the former Mount Pleasant Park, 907 Ikes Peak Road, will provide housing for residents over the age of 55. Iowa Finance Authority awarded the project $688,734 in tax credits.  

Iowa Finance Authority awarded $655,577 in tax credits to Brookline II housing development at 1590 Eighth St. in DeWitt. The new construction is another Ales Development project.

Iowa Finance Authority received 34 applications requesting nearly $25 million in housing tax credits. It had $13.25 million to allocate, including more than $4 million targeted to the 12 counties impacted by the August 2020 derecho, made available by the Consolidated Appropriations Act of 2021.

Iowa Finance awarded $643,580 for Tallgrass housing project in the 1300 block of Seventh Street in DeWitt. North Arrow Development will construct the family homes there.

Story Highlights

  • The Finance Authority also awarded $207,524 to Clinton’s historic Van Allen building at 200 Fifth Ave. South, for rehabilitation. 

  • Ales & Company of Davenport, the developer that turned Washington Middle School into an apartment complex, plans to build about 30, two-bedroom housing units on the 8.67-acre property. 

The credits will be committed annually for a 10-year period.