The Iowa Finance Authority and Iowa Economic Development Authority have awarded Des Moines and extended an award to West Des Moines for Iowa Thriving Communities, a prestigious designation honoring cities' commitment to housing solutions.
The award gives certain housing projects in designated communities a scoring boost when seeking important state and federal incentives from the Low Income Housing Tax Credit program or Iowa's Workforce Housing Tax Credit Program.
Receiving the status requires an extensive application commitment in which a city details its commitment to providing housing for all segments of the community. Finalists then make an in-person presentation at the Iowa Finance Authority and Iowa Economic Development Authority offices in Des Moines.
"The Polk County Housing Trust Fund has been honored to throw our enthusiastic support behind Des Moines and West Des Moines as they have sought this honor because it speaks to the track record these communities have committed to for years and their potential for doing more," said Matt Hauge, the Polk County Housing Trust Fund's director of outreach and communications.
Hauge cited years of Des Moines effort to include affordable rental housing units in new multifamily developments that receive city incentives and West Des Moines' support of adding housing choices neighborhoods like Historic Valley Junction as evidence of the cities' commitment.
The City of Des Moines chose to designate the Market District, a new development area south of the East Village that was previously underutilized industrial space, as the priority area to receive a housing tax credit award.
Meanwhile, West Des Moines, which was first awarded Thriving Communities status last year, receives an extension of its award as the city continues to work toward redevelopment of its Valley West Mall area and several other priorities.
Although only a limited number of communities receive the thriving designation each year, the scoring criteria for the program provide an excellent overview of strategies communities can use to encourage housing development.
Reviewing the criteria for an award and talking with communities who have received the designation is a great way for new cities to prepare to apply. In this way, Thriving Communities provides great opportunity for peer learning and support in communities across the state.
"We love all of our local communities and we want them to succeed with housing," Hauge said. "It's great that our state agencies are setting this tone and helping communities see their hard work achieve results."
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