by Marianne Gasaway
A market rate rental housing project planned in Clear Lake has been awarded a $195,600 Workforce Housing Tax Credit.
Awards totaling almost $10 million were announced by Iowa Economic Development Authority (IEDA) for 19 housing projects across the state.
IEDA’s Workforce Housing Tax Credit program provides tax benefits to provide housing in Iowa communities, focusing primarily on those projects using abandoned, empty or dilapidated properties. For the fiscal year 2021 application round, $10 million in credits were available for award under the WHTC program’s Small Cities Set Aside component. IEDA received 84 applications requesting $34 million in tax credits. Projects are scored competitively based on readiness, financing, need, and local support and participation.
In May 2018 the Clear Lake City Council gave its enthusiastic approval to the idea of accepting proposals for the sale and redevelopment of city-owned property at 100 S. 15th St. The metal cold-storage building, which City Administrator Scott Flory called “an eyesore for a greatTo read more of this article, please login or sign up for our E-Edition