Feb. 4, 2021
Governor's Economic Recovery Advisory Board Report Released
HOUSING CAN LEAD IOWA'S ECONOMIC RECOVERY AND GROWTH
Governor Reynolds today released the the Governor’s Economic Recovery Advisory Board report.

The Governor's Economic Recovery Advisory Board was established with a charge to develop a plan not just to return Iowa to where it was economically, but to seize the opportunities and lessons learned from COVID-19 to think bigger.
"HOUSING CAN LEAD IOWA'S ECONOMIC RECOVERY AND GROWTH"
The advancement of critically needed housing supply and housing assistance for Iowans who need it most, including low-income families is a top recommended priority.
Governor's Housing Bill
The Economic Recovery Advisory Board had unanimous support for the need to advance housing opportunities for Iowans and the Governor’s office has introduced a housing bill that will make significant progress towards these goals.  
 
Please consider voicing your support for this legislation with your legislators.

With your continued support, we can make historic advancements in housing for Iowans.
Legislation Summary
Increase Workforce Housing Tax Credits
This existing program provides tax benefits to developers to expand housing in Iowa communities, focusing especially on projects using abandoned, empty or dilapidated properties.

Establish Iowa Housing Tax Credit Program
This new program will address the housing need for the lowest-income Iowans. The program is expected to assist in the development of approximately 375 new rental homes each year.

Expand Redevelopment Tax Credits
Developers in Iowa can receive tax credits for redeveloping abandoned, idled or underutilized industrial or commercial properties known as brownfield properties; or grayfield properties, which include abandoned public buildings, industrial or commercial properties.

Create Disaster Recovery Housing Assistance Program
This program will assist in immediate recovery efforts after natural disasters, to be implemented and funded upon the issuance of a state disaster proclamation.

Support Downtown Loan Guarantee Program
Create a Downtown Loan Guarantee Program in partnership with Iowa banks to allow businesses access to financing for eligible downtown revitalization projects.

Support State Housing Trust Fund
Remove the current cap from the Real Estate Transfer Tax as an enhanced funding mechanism for the State Housing Trust Fund.