PCHTF approves $689,528 in grants for critical housing services

The Polk County Housing Trust Fund (PCHTF) recently awarded $689,528 in grants to 18 programs at local non-profit organizations through the organization’s Programs and Supportive Services (PSS) program. These grants bridge the gap between affordable housing and families in our community through programs that support housing stability, affordability, justice, and access.

“PCHTF is committed to providing housing stability for all members of our community. We partner with a network of organizations to provide resources and support where they are needed most, and again this year, the community helped us raise the total we could award to its highest level yet for the PSS program,” said Ena Babic Barnes, PCHTF board member and chair of the committee responsible for allocating funds.

The PSS funds PCHTF allocates are unique because they come from community businesses, organizations, and individuals through the PCHTF’s Stable Steady Strong fundraising effort. This supplements PCHTF’s operational funding and “bricks-and-mortar” development grant funds, which are provided by Polk County and the State Housing Trust Fund administered by the Iowa Finance Authority.

Thanks to the operating support PCHTF receives from Polk County, PCHTF grants 100% of funds invested through Stable Steady Strong out to local nonprofit partners who provide programs and services that meet critical needs in the community.

“We are grateful for the community’s help securing the needed funds for this work, which allows us to increase our investments where they will be most impactful—supporting equitable housing opportunity. While we have achieved so much, the need continues, and we will keep working with our supporters and the community so that everybody in Polk County has safe, stable, and affordable housing,” said Mollie Giller, PCHTF’s director of programs and supportive services.

To learn more about Stable Steady Strong and the investments it supports in our community — or to make a contribution in support of this program, visit our website https://www.pchtf.org/stablesteadystrong/ .

PSS 2023 summary chart.pdf

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PCHTF announces next $893,750 in American Rescue Plan Act Funds for affordable housing

The Polk County Housing Trust Fund (PCHTF) has announced its next two completed agreements for affordable housing investment using federal American Rescue Plan Act funds allocated to PCHTF by the Polk County Board of Supervisors. These agreements, which were completed in the 1st quarter of 2023, total just over $890,000. This, along with contracts PCHTF announced in January, now tally $6.2 million committed to support 153 units of affordable housing at or below 60% of the area median income within properties that offer a total of 246 housing units.

Polk County’s landmark $15+ million allocation of American Rescue Plan Act funds announced in April 2022 includes $12 million for housing development including for those projects described below. The county also set aside $3 million to create a housing revolving loan fund, and $150,000 for a homeless advocates pilot program.

Projects receiving funds will provide housing to some of the community’s most vulnerable populations who struggle to find a quality place to live. This includes seniors on fixed incomes, larger households who need more space at an attainable price, and people who need an affordable home near jobs with quality transit access.

In addition to those previously announced, the Trust Fund is today reporting these additional investments:

Project supporters and the development team gather for the groundbreaking of Star Lofts on May 4, 2023.

Star Lofts, Cutler Development, Inc., $500,000

This new construction project is scheduled for completion in Fall 2024 at 2701 Ingersoll Avenue. It will transform a blighted gas station into Iowa’s first Zero Carbon certified building (as certified by the International Living Future Institute). It will feature a mass timber structure and the building’s energy consumption will be 100% offset via onsite and offsite solar. Affordability restrictions will apply to all of the 20 apartments in the building with 6 units held affordable for people earning at or under 30% of Area Median Income which are supported by this grant. These apartments will provide needed workforce-affordable, transit-accessible housing on the Ingersoll Avenue corridor.

Lyn Crossing, Dream Catcher, Inc., $393,750

Lyn Crossing was originally constructed in 2001 by the nonprofit Dream Catcher, Inc. The property offers 50 apartment homes (45 with affordability restrictions) at 2000 Meadow Chase Lane in Des Moines - including one building with units specially designed for disabled adults. These funds will be used to address important capital needs at the property – such as replacing the roofs on the property’s 8 residential buildings and community building or similar needs identified in a recent comprehensive assessment. These repairs will help preserve these apartments in service at rents affordable to people and families earning below either 40 or 50% of area median income.

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Funds in this program are awarded through a competitive application process in which applications are reviewed by the Polk County Housing Trust Fund’s development committee and approved by its board of directors. PCHTF held a first round of applications in July of 2022, a second round of applications in September, and a third round of applications in February.

Investments from this fund are available to support rental housing affordable to people earning under 60% of the area median income, currently $59,100 for a family of four. The Trust Fund is placing additional prioritization on serving extremely low-income households earning at or under 30% of area median income, or $29,550 for a family of four. These income guidelines vary by number of people in the household and are updated annually by the federal government. (The 2023 annual update is expected later this month.)

PCHTF will continue to report its progress on finalizing funding agreements quarterly to Polk County and the public until the fund is fully expended.

Learn about our Programs & Supportive Services Grant Opportunity

Applications for the Polk County Housing Trust Fund's Programs and Supportive Services (PSS) grant opportunity are open until March 28, 2023 at noon. Here's what to know if you're a non-profit organization thinking about applying.

• These PSS funds support non-profit 501c3 organizations helping Polk County residents find safe, stable housing. Programs can support individuals earning at or below 80% of Area Median Income and support for extremely low income individuals (at or under 30% of AMI are preferred).

• Grant recommendations are made by a funding committee and approved by the PCHTF board of directors. Applications are evaluated by the program's ability to help people find stable housing (defined as living at the same address one to two years or longer) as well as how the programs contribute to affordability, justice and accessibility of housing.

• PSS funds are contributed by businesses, organizations, and individuals in our community who invest in our Stable Steady Strong campaign. You can join them by giving online at PCHTF.org/donate.

Full details about this funding program can be found here - as well as the link to apply. Applications will be open February 20 until March 28, 2023.

This blog post was updated on February 20 to reflect the fact that applications are now open.