Iowa Finance Authority Awards more than $550,000 to Aid Permanent Supportive Housing Providers

(DES MOINES) - The Iowa Finance Authority (IFA) Board of Directors today awarded a total of $554,596 to a total of ten Permanent Supportive Housing (PSH) providers in Cedar Rapids, Council Bluffs, Des Moines, Davenport, Iowa City and Waterloo.

PSH is an evidence-based, minimal-barrier housing intervention for persons experiencing homelessness designed to support individuals with complex, multi-occurring conditions. Qualifying households are provided permanent affordable housing with access to case management and support services. It not only improves the housing stability and overall quality of life of Iowans but also generates significant savings for public systems, reducing costs associated with emergency room visits, incarcerations and health care services.

The IFA Board of Directors created the Iowa PSH Fund for the purpose of supporting the operational stability of Iowa's nonprofit PSH providers, helping to ensure the housing stability of the individuals and families served in those rental units and reducing their risk of returning to homelessness.

"Permanent Supportive Housing has demonstrated long-term benefits in housing stability, employment, mental and physical health and school attendance," said IFA Director Debi Durham.

"By investing in the operational needs of our PSH providers, we are not only investing in the well-being of Iowans, but also strengthening our communities."

The Iowa PSH Fund offers two categories of assistance for eligible providers:

PSH Operating Deficit Relief Grant
Eligible applicants can request up to $50,000 to cover operational deficits incurred during the prior fiscal year. The maximum award will be the lesser of $50,000 or the actual operating deficit.

PSH Operating Expense Grant
A one-time grant of up to $25,000 may be awarded for each completed Federal Housing Tax Credit PSH project, while National Housing Trust Fund PSH projects may receive up to $50,000.

This funding aims to reinforce the essential work of PSH providers, ensuring they can continue to offer vital support to those in need throughout Iowa.

The list of awards is available here.

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