Home investment partnerships program

On September 19, 2025, the U.S. Department of Housing and Urban Development (HUD), through its Assistant Secretary for Community Planning and Development, awarded the Iowa Finance Authority a Home Investment Partnerships Program (HOME; CFDA 14.239) formula grant of $7.94 million, with a completion date of September 30, 2034. This funding supports the expansion of affordable housing supply in Iowa, with emphasis on rental housing for low and very low-income households. The Iowa Finance Authority, a state government entity headquartered in Des Moines, functions as the primary administrator and sub-allocator of these federal resources throughout the state.

The HOME grant funds four primary housing activities: rehabilitation of owner-occupied housing, homebuyer assistance programs, acquisition and rehabilitation of rental housing, and tenant-based rental assistance. The Iowa Finance Authority strategically sub-awards portions of this federal funding to regional partners including the Institute for Community Alliances, Humility Homes and Services, the Domestic Violence Intervention Program, and the Salvation Army, among other service providers. These sub-awardees deliver complementary services such as homebuyer counseling, rental assistance, case management, and supportive services to low-income and special-needs populations across Iowa. All assisted housing units must meet HUD's income targeting requirements and maintain affordability for 5 to 20 years depending on activity type and funding contribution levels.