Letter of Support for Certifying the Greater Dubuque Housing Trust FundCity of Dubuque
City Council
CONSENT ITEMS # 10.
Copyrighted
August 18, 2025
ITEM TITLE: Letter of Support for Certifying the Greater Dubuque Housing
Trust Fund
SUMMARY: A letter of support is provided from Mayor Brad Cavanagh to
the Iowa Finance Authority Board of Directors in support of
the transition of governance for the Local Housing Trust Fund
serving the City of Dubuque from the City to the new
nonprofit, Greater Dubuque Housing Trust Fund.
SUGGUESTED Receive and File; Approve
DISPOSITION:
ATTACHMENTS:
IFA - GDHTF Jurisdictional Acknowledgement
Page 270 of 579
Dubuque
THE CITY OF
DUTBQTE
JDAoeMa City
Masterpiece on the Mississippi
2007-2012.20132017*2019
TO: Iowa Finance Authority Board of Directors
FROM: Brad Cavanagh, Mayor
SUBJECT: Jurisdictional Support for Certifying the Greater Dubuque Housing Trust
Fund
DATE: July 30, 2025
The City of Dubuque established a Local Housing Trust Fund (LHTF) over 30 years ago
to address affordable housing and meet the needs of the city's low- and moderate -
income residents. The primary role of the Local Housing Trust Fund has been to
increase affordable housing, assist first-time homebuyers with down payments and
closing costs, rehabilitate affordable housing, and invest in neighborhood revitalization.
Although the City of Dubuque Local Housing Trust Fund has been in existence for
several decades, the structure of the LHTF does not fit within IFA's current certification
requirements.
The City acknowledges that it is best practice for LHTFs to be a certified nonprofit entity
and must have a standalone Board of Directors that makes funding decisions. This
Board must be comprised of no more than 50% of individuals from local
government/public officials. The current governance structure does not align with this,
so the City approached community partners to discuss transitioning the governance
structure to a nonprofit in September 2024.
One of the greatest benefits LHTFs bring to their communities is the ability to fundraise
as a nonprofit entity, and to leverage multiple funding sources to address affordable
housing issues in their communities. With the current governance structure under the
City of Dubuque, it creates complexities with fundraising and potentially limits the impact
of the LHTF.
In partnership with the Community Foundation of Greater Dubuque, the Greater
Dubuque Housing Trust Fund (GDHTF) was created, and two members of the City's
Local Housing Trust Fund Advisory Committee are on the Board of Directors of this new
nonprofit. While the GDHTF applies for their charitable organization status through the
IRS, the City of Dubuque will remain the grantee for LHTF funds..
Page 271 of 579
Staff from the City of Dubuque's Housing Department have managed the IFA LHTF
grants for many years, investing millions of dollars into housing creation and
stabilization. To continue operations and spend the IFA grants in a timely manner, the
GDHTF and City of Dubuque have proposed to enter a Contract for Services. Housing
staff will continue to operate programs funded through LHTF dollars, although the
grantee will now be the GDHTF.
The City of Dubuque fully supports the transition of governance for the Local Housing
Trust Fund serving the city of Dubuque from the City to the new nonprofit, Greater
Dubuque Housing Trust Fund.
Respectfully,
l
Brad Cavanagh
Mayor
Page 272 of 579