Charles City to Make Pitch to Building Developers

Last month, the Iowa Finance Authority (IFA) selected Charles City as one of 11 “Thriving Communities” in Iowa.

With that designation, the City was approved for $1 million in Iowa Workforce Housing tax credits. The City also learned they were one of just three communities in Iowa to also land $1 million in Affordable Housing tax credits. That means Charles City can offer $1 million in tax credits to two developers and possibly two housing projects.

Dean Stewart with Stewart Realty says the tax credits can level the playing field for Charles City to compete with larger towns to attract developers. 

Still, Emily Garden with the Charles City Housing Taskforce and Redevelopment Authority says getting those projects started isn’t as easy as it might seem to some citizens.

The current focus is building apartments on land just west of Floyd County Medical Center, donated by the Charles City Area Development Corporation. Also receiving consideration is possible renovation of the former Cedar Health nursing home care center that closed in 2017.

Charles City is making their pitches to developers during the HousingIowa Conference going now through Friday in Cedar Rapids.