Last August, Charles City was named a “Thriving Community,†opening the door to $1 million in Affordable Housing tax credits from the Iowa Finance Authority (IFA).
City Administrator Steve Diers says three developers are vying to build low-income housing on one of four sites.
Cedar Health aside, Diers says the other properties would have to be rezoned to build residential apartments.
Diers says applications for the $1 million in affordable housing tax credits are due April 10th.
With the “Thriving Community†distinction, Charles City was also awarded $1 million in Iowa Workforce Housing tax credits for “market rate†housing to build either a multi-residential apartment or, preferably, more single-family housing.
In addition to the housing tax credits, the City hopes its new tax abatement program on new residential and commercial construction will attract more developers to consider building in Charles City.
