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State Housing Trust Fund Donates to Habitat for Humanity of Marion County

Posted: Wednesday, December 15th, 2010 at 6:26 am
Author: KNIA/KRLS News-Samantha Smith

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Habitat for Humanity of Marion County recently received a large grant to help build a home for a well-deserving family. The Iowa Finance Authority recently approved a $50,000 grant to support the construction of a home in Knoxville.

Funding for the grant comes from the State Housing Trust Fund’s Project-Based program which provides financing for the development of affordable family housing. The family who purchases the home will receive education on finances, home repair, homeownership and foreclosure prevention and will also be required to complete the required hours of sweat equity before closing on the home.

So far this fiscal year the project-based program has supported the development of 551 affordable family housing units equal to a total cost o $397,521.