Gov. Kim Reynolds announces $100 million in funds to support Iowa housing

House with American flag and 'for sale' sign, low angle view

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(Cedar Rapids, IA) -- Gov. Kim Reynolds announced Wednesday afternoon that $100 million dollars from the American Rescue Plan Act will support Iowa's housing shortage. During the Housing Iowa Conference in Cedar Rapids, Reynolds said there is not enough affordable housing in the state.

”We’ve seen a growing mismatch between where job opportunities are thriving and where people can find affordable places to live. This issue requires us to think big and act boldly. It’s too important to really do anything else,” Reynolds said.

The $100 million dollars from pandemic relief funds will add to the $230 million in increased funding passed last legislative session to support housing. The total $330 million dollars will be allocated across the state to solve the housing issue.

According to Reynolds, Iowa is expected to grow by 47,000 households in the next decade. One of the reasons she says living in Iowa is attractive to people is the available jobs in the state. Wednesday morning, the Iowa Workforce Development said over 80,000 open positions are listed on their job board.

Reynolds says safe neighborhoods and a low cost of living are also among the factors pertaining to why Iowa is an attractive location for those looking for a new start.

The $330 million dollars will be spread in various ways, such as building an estimated 36,450 new housing units in the state. $20 million of the total will help communities of fewer than 30,000 people create more housing in their respective downtown areas.

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