Two proposed multifamily housing unit projects in Perry will receive funding help from the Iowa Finance Authority.

The Authority’s Board of Directors announced Thursday that 13 different projects have been awarded a total of $83.7 million to build and preserve 523 affordable housing units in Iowa.

Among them are two new construction projects in Perry.  The first is a proposal from Newbury Living and the Nudgers Incorporated to build 32 affordable housing units for seniors at 2023 Willis Avenue, also known as the old middle school site.  The Hamlin Bell Senior Housing project has been awarded $517,628 in tax credits, along with another $1 million in HOME, or federal block grant funds.

Bear Development’s Willis Avenue Apartments project to build 34 affordable units for families at 913 Willis Avenue has also been approved for tax credit funds in the amount of $437,799.

The Iowa Finance Authority received 23 applications requesting more than $13.2 million in housing tax credits.  The actual awards exceed $78 million because the credits are committed annually for a 10 year-period.  In addition, more than $4.9 million in state HOME funds were awarded to six different rental housing tax credit projects for 2015.