Image courtesy of Iowa Finance Authority

A rental housing project in Jefferson is moving forward after getting over a tremendous hurdle.

The Iowa Finance Authority (IFA) awarded over $10.6 million in federal tax credits to construct or rehabilitate rental housing and one of those projects was located in the city of Jefferson. KCG Companies was the recipient of $1,281,139 to build a 50 rental unit facility at 403 West Head Street, near Ace Hardware. IFA Director Debi Durham especially pointed out three other communities, along with Jefferson, who had the Iowa Thriving Community designation and their efforts to leverage creative practices to attract housing opportunities to add to their workforce, were allowed additional points when it comes to federal housing tax credits.

KCG Representative CJ Lintner tells Raccoon Valley Radio they are excited to receive this award through the IFA and it would not be possible without the Jefferson city staff and others to make the Iowa Thriving Communities designation a reality. He says this is a great example of private and public partnership to bring high quality and well managed housing to Jefferson.

According to the IFA, the housing developers sell these tax credits to investors to generate equity for housing developments. IFA received 27 applications for a total of over $30 million of requested funds. Click the link below to see the full list of recipients.

https://www.iowafinance.com/content/uploads/2024/07/2024-9percent_award06272024.pdf