Iowa Finance Authority is a famous name in all the America. Well, let me tell you first about Iowa.
Iowa is a state of ‘United States Of America’. It is between Missouri and Mississippi rivers. Iowa is famous for its rolling plains and cornfields. Iowa is a prime agriculture state. It is on top in producing cornfields. You will also get the best pork here. People also call it ‘Hawkeye state’.
Iowa finance authority has played a great role in the development of Iowa State. It has been serving the state with many finance programs for the last five decades. These programs help people very much.
What is Iowa Finance Authority?
We are a self-supporting public initiative. We give money to people. Our mission is to help them in their personal & social work. Our people have a mission to grow the living standard of the people of Iowa.
For this, we give financial support to people for their different projects. These projects can be personal. It can also be for a community. We believe that if we help an individual person means we are building a society.
We are here to make a society for everyone. Our main focus has always been to develop our land Iowa. We have dedicated ourselves to the people of Iowa.
Iowa is a prime agricultural state. Iowa’s main income source is its corps and animals. Hence here people need a proper water supply and a good infrastructure for their farming lands. Our various funding programs help people to issue funds and use that on their farms.
We offer tax-exempt bonds, low-cost funds, and Title guaranty. Our community programs have also won many hearts. We are glad that people love our work.
Honesty and trust are our best policies. We design our programs to bring sound results only. We also have visionary leaders on our team. They help us to lead IFA to another milestone.
History of Iowa Finance Authority:
Iowa Finance Authority took its first breath in the year 1975. Supreme Court gave us separate and distinct powers for issuing bonds. Our mission was simple. We wanted to give the money support to the people of Iowa.
IFA started its work for growing the quality of life for the people of Iowa. We always want to save the culture and legacy of Iowa.
1976 was a great year for us. This year, the US government gave us the allowance for separate and distinct issuing of bonds.
In 1977, we issued our first tax-exempt bond. In this way, we started our work. The same year, we issued our first multifamily bonds program.
It was the year 1985. We changed the name to Iowa Finance Authority. Earlier it was ‘Iowa Housing Authority. This name later became our brand & pride.
In the year 1987, we issued our first low-income housing tax credits.
Achievements of Iowa Finance Authority:
IFA has come a long way. We have always done our efforts for the welfare of Iowa State. I am showing you some data from our official website.
- They have built 30,100 affordable homes. We have used the state housing trust fund investment policy for this.
- We have issued a 1314 Iowa Title guarantee.
- Iowa Finance has purchased 415,190 acres for farming.
- The state housing trust fund has leveraged over $ 163 M funds.
- Iowa finance has given homeownership to 5975 military service members.
- Over 2 M+ people got the benefits from state revolving funds.
- We have built over 756 affordable housing properties across the state.
- Over 982 farmers started their farming businesses with the help of IFA.
- We have helped 110,724 people with our homelessness assistance program.
. We reinvested the money that we got from the Iowa title guaranty. This amount is $ 61 M.
- We have benefited 600 Iowa communities with our state revolving funds program.
- Over 58,295 new homebuyers got their keys through IFA programs.
What are the services of IFA?
We have always worked for the betterment of Iowa residents. They have come to the public with their goal & growth-oriented programs. Their achievements say it all.
You can also get benefits from IFA through its programs.
Homebuyers, Realtors, and Lenders:
This program has two subprograms. One is homeownership and the one is Iowa Title Guaranty.
In the homebuyer program, IFA helps people to get their new homes. We help you to get with your low-cost down payment and closing cost assistance programs.
Developers and Property Managers:
In this program, we have brought compliance information and a home program. It also has a housing tax credit program and Iowa Title guaranty commercial.
We have developed our plans to better the living facility. It includes the housing authority search and Section eight rental communities in Iowa.
Local governments and partners:
We have started our partnership with local governments. We also have an alliance with local businesses. Now we are bringing projects like Homelessness assistance, the National housing trust fund, the state housing trust fund, and water quality programs.
For farmers of Iowa State, IFA has brought three programs to help.
- Beginning Farmer Loan Programs
- Beginning Farmer Tax Credits Programs
- Loan Participation Programs
We give financial authority and state revolving funds also.
What plans Iowa finance has for the future?
Debi Durham is the present executive director of IFA. We have already started working for the next 30 years. During this time, we will grow Iowa finance authority bigger than it is now. In near future, our plans will do more wonders than ever. Future plans of the organization will work in two parts:
- We will implement innovative solutions. We want to expand housing financial opportunities. This is to meet the demands of Iowa’s vibrant and growing economy.
- We will bring support for housing development. We will ensure that our essential workers can live in the communities in which they work.
Success stories of the IFA programs:
1. DON DOCKERY, Homeless Services Recipient:
Don Dockery states that the assistance gave him a second chance. They have supported him whenever he needed that. He is thankful to the IFA. He is also paying for this by helping others.
2. Conor Kromenhoek, first-time house buyer:
Conor shares his experience with us. He says,” the down payment IFA loan assistance we received from the Iowa finance authority allowed me to move into my first home. I and my family are happy as we have a place for making memories now.”
3. Bonnie Worley, Housing Tax Credit Tenant:
She says, “I couldn’t find a better place. I feel fortunate to have this place to call my own.”
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