I-JOBS Grant Award_Washington Neighborhood Revitalization PlanFOR IMMEDIATE RELEASE
March 3, 2010
OFFICE OF THE GOVERNOR
Governor Chet Culver * Lt. Governor Patty Judge
Contact:
Troy Price, Governor's Office
(515) 281.0173
trov.nricec iowa.gov
Shawna Lode, Iowa Finance Authority
(515) 725.4897
shawna.lode(aa iowa.gov
GOVERNOR CULVER: I -JOBS CONTINUES TO
SUPPORT AFFORDABLE HOUSING IN IOWA
More than $2.8 million in I -JOBS grants will preserve affordable housing in Council
Bluffs, Des Moines, Dubuque
DES MOINES — Governor Chet Culver announced today that affordable housing initiatives in Council
Bluffs, Des Moines and Dubuque will receive a total of more than $2.8 million to preserve 117
affordable housing units. The awards are made through the Affordable Housing Program, a part of the
Culver /Judge Administration's I -JOBS initiative. The Iowa Finance Authority administers the program.
"These awards will help provide safe and decent living conditions for some of Iowa's most vulnerable
citizens," Governor Culver said. "And today's awards, which assist projects from across the state, are
further proof that I -JOBS is helping to move Iowa forward."
The Affordable Housing Program includes $20 million in funds to build or rehabilitate housing for
certain elderly, disabled, and low- income persons and public servants in critical skills shortage areas of
the state. Only cities, counties and qualified nonprofit organizations are eligible applicants. Applications
are accepted on an ongoing basis until funds are exhausted. To date, more than $15 million from the
program is committed. These awards leverage more than $24.5 million in other financing sources or
$1.63 for every dollar of I -JOBS funds.
Recent Affordable Housing Program recipients:
City of Council Bluffs
Award: $2,400,000
The City of Council Bluffs, in partnership with local developers Seldin Company and J. Development
Company, will acquire and rehabilitate the Pine Ridge Apartments, a 96 -unit affordable multifamily
complex in downtown Council Bluffs.
City of Dubuque
Award: $240,000
As a part of the Washington Neighborhood Revitalization Plan, the City of Dubuque will acquire and
rehabilitate six historic row -house apartments that will be resold to qualified homebuyers.