A housing project in Jefferson achieved another benchmark in its goal to secure funding.

Developer Nate Adams is looking to convert the former Greene County Middle School three-story building that sits along Highway 4 into 25 apartments. The rental units range from 500-square feet for a studio apartment to 1,400-square feet for a three bedroom loft. The $7 million project received another piece of the funding puzzle with a $600,000 Downtown Housing Grant through the Iowa Economic Development Authority. 

Other funding sources that project has secured includes a $694,000 Workforce Housing Tax Credit, a Grayfield Tax Credit and a $1 million, zero-percent loan through the Iowa Finance Authority. Governor Kim Reynolds was in Jefferson last Friday to review the project and she talked about how impressed she was with how much funding state grants have helped the project along.

“They’re really done a good job of recognizing the different grant projects that they would qualify for and they’ve been successful in getting the funding for it. So that’s great too. It’s a good plan, I mean they look through all of that and the capacity to be able to follow through with the project. You’ve done a good job of putting a strategic plan together and they’re seeing the results of that.” 

Adams said the final funding that’s needed for the project to begin is the state and federal historic tax credits, which would provide the final $2 million. He told Raccoon Valley Radio, there’s still a long road ahead.

“I think we’re in the second inning of the project completion. Getting the project from this point to completion is an even bigger hurdle. We’re excited to continue to work with the state and federal tax credit group to hopefully get that accomplished and if we can it’ll be off to the races on getting the project delivered hopefully sometime in 2023.” 

Part of the project goal is to demolish the attached gymnasium, which the Greene County School Board has already approved a contractor for, but the structure will not be torn down until all of the funding has been secured. Adams added, construction would take about one year to complete.