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Dubuque Named one of 11 Iowa Thriving Communities by Iowa Finance Authorty (IFA) and Iowa Economic Development Authority (IEDA) Copyrighted August 21, 2023 City of Dubuque Action Items # 02. City Council Meeting ITEM TITLE: Dubuque Named one of 11 lowa Thriving Communities by lowa Finance Authority(I FA) and lowa Economic Development Authority(I EDA) SUMMARY: City Managertransmitting information regarding Dubuque being named one of 11 lowa Thriving Communities by I FA/I EDA SUGGESTED Suggested Disposition: Receive and File DISPOSITION: ATTACHMENTS: Description Type Dubuque Announcement Supporting Documentation I FA Announcement Supporting Documentation r � ,�: �; � : �� , _ +� ' .��' ' - � � � + f ' �.{ � ' � r � � . �f��.�'!��r 1����' ' DUBUQUE NAMED IOWA THRIVING COMMUNITY THROUGH NEW PROGRAM � ���' T�I�IVI�1� FROM IOWA FINANCE ���,���,��,�� AUTHORITY AND IOWA ECONOMIC DEVELOPMENT AUTHORITY AUGUST 14, 2023 The City of Dubuque has been named to the inaugural group of lowa Thriving Communities, a new program from the lowa Finance Authority (IFA) and lowa Economic Development Authority (IEDA). The program recognizes cities around the state that utilize innovative solutions to enhance their housing offerings to residents of all income levels. The 11 communities selected for the program will benefit from additional scoring points in applications for both federal and state housing tax credit programs. The scoring points are a highly sought-after part of the competitive tax credit application process and will incentivize developers to choose cities that have been selected as lowa Thriving Communities for proposed developments. The scoring points will be made available for applications for both the Federal Housing Tax Credit and lowa Workforce Housing Tax Credit. Both programs provide funding for the construction of multi-family or single-family homes or complexes. The federal program i provides up to $12 million in credits per development, while the state tax credit offers up to $1 million. IFA and IEDA announced the new program earlier this year and began accepting applications in May. Last week, Dubuque and other finalists made in-person presentations at a joint meeting of the IFA and IEDA in Des Moines. Representatives from Dubuque will now have the opportunity to present to developers and other stakeholders at the Housinglowa Conference in Cedar Rapids in early September. MEDIA CONTACT: Randy Gehl, City of Dubuque Public Information Officer 563-589-4151, RGehl@cityofdubuque.org Ashley Jared, lowa Finance Authority Communications Director 515-452-0474, Ashley.Jared@iowafinance.com � Share on Facebook 'Share on Twitter —�Share via Email Copyright O 2022 City of Dubuque.All Rights Reserved. Powered by 50 W. 13th Street, Dubuque, IA 52001 � ��� If you no longer wish to receive emails from us, you may . Email not displaying correctly?View it in your browser. 2 �� �� � � � � ��, :��; y '�yI _ ' _� r � '�# � ..� ,� ..� _�nr.�- ..� . ���:,�l �s i - � � ��� I .-_ ' `.'�i15. .� � �.��� . ._ � �� V�-.- .�_ `� I ��. 1 .. ' � � . • � �' J � � �� ����� Doors To �'��' C�PP�RTUNtTY '� � , s.r �. 4d + . -"� �' . ' �` - - ` "'��1;�' 1�'�y'�►�1����� `:�_ .-� _ . � _. � �1 r , � � , � y � i � �� .. .e� .�� �- . c�._. '� . 4. Introducing: lowa Thriving Communities It's no secret that housing is the start for upward economic opportunity and that families, communities and businesses will thrive when all lowans have access to homes they can afford. Meeting the housing demands of our robust economy is going to require a strategic, proactive and innovative effort, including from lowa communities and employers to ensure that all lowans can afford and have the opportunity to live in the communities where they work. This is why the lowa Finance Authority (IFA) and lowa Economic Development Authority (IEDA) introduced the lowa Thriving Communities designation to elevate best practices from communities that are going above and beyond to leverage innovative methods to attract housing opportunities for their workforce. Dozens of lowa communities completed an intensive application process to be designated as an lowa Thriving Community and 11 have been awarded the prestigious designation. lowa Thriving Communities will serve as models for other communities on both a statewide and national level in attracting housing development for all income levels. The designation also comes with highly sought scoring points for the Federal Housing Tax Credit and/or Workforce Housing Tax Credit programs. The designation and scoring points are effective through 2024. � ' � � � � - � . � . i t .�► � � � r ' '.' I �J W�i • � THRIVING � - ��MMUNITIES � :� � � f ■ =,; � ! � MEET THE IOWA THRIVING COMMUNITIES • � � • � � • Hear how these communities are working to attract housing for all at the Housinglowa Conference in Cedar Rapids Sept. 6-8. `�� �J Af� E If� 111TED � �,�����. . . . . . � . F£ATUSF[fii6:94WA TF#R[Y�!#6 COHN41!#YT[ES � .� I�yy�y • _ [ TF�#�IVIF#G �nr�r�,i�l'i�S TUE�QAY, ��PT�NIBER S s o.rrr. to J p.rrr. - - WARMAC. A11 6TW AVE �E. CEDAR RAPlQS Fraa parking available at khe lacaticn. �_C{k'!d�7.�ftr+'E 396H34RE6 9Y .v..I���Y Y1�4. �. L� �1 � � Gr f �iowi rir.r v�_ ��t.n+ ..I i I i' i . � ♦♦� � . � . -.. . . .. .