Success Story: SIMPCO collaborated with the City of Kingsley to complete owner-occupied housing rehabilitation projects utilizing TIF.
Project Background: When a city utilizes Tax Increment Financing (TIF) to support development, a percentage of the incremental revenues generated by the project must be used to provide assistance to low-and-moderate income (LMI) families.
The City of Kingsley has had several projects that utilized TIF which created a fund for LMI Housing activities to be carried out. The City elected to utilize the funds as a grant for direct low-to-moderate income owner-occupied housing rehabilitation.
Project Purpose: The purpose of the Housing Rehabilitation Program is to assist income eligible homeowners with necessary health or safety repairs to allow the owner to continue living in the home. As well as provide energy and resource conservation.
Carrying out housing rehabilitation activities is to preserve the housing stock in our communities while ensuring that members of the community are living in safe and habitable environments.
Future Impact: The program in Kingsley has assisted eight homeowners to date. Rehabilitation items included: roofs, siding, windows, electrical, plumbing, and radon mediation. Program participants were able to partner with USDA-Rural Development and the Western Iowa Community Improvement Regional Housing Trust Fund to complete projects.
To find out more, or to inquire how your community can participate in owner-occupied housing rehabilitation projects, contact Amanda Harper, SIMPCO Housing Specialist.