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Mason City housing project gets state tax credits

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Iowa Economic Development Authority

DES MOINES, Iowa – A Mason City housing project is getting a boost thanks to state tax credits.

The Iowa Economic Development Authority (IEDA) says it has awarded $344,183 in workforce housing tax credits to the Federal Avenue Rowhomes project in Mason City.

"Housing is a critical part of Iowa's efforts to attract and keep a skilled workforce, strengthen quality of life in our communities and grow the economy," says Debi Durham, executive director of IEDA and the Iowa Finance Authority.  "The awards will help more communities thrive and more families move where opportunities await them."

The Federal Avenue Rowhomes project is expected to create 11 new homes in Mason City.

A total of $35 million in tax credits is going to 57 housing projects in 30 Iowa counties.  Also receiving IEDA support is a 48-unit development in Decorah, which is getting $1 million in tax credits, and the rehab of eight housing units at the Waverly Theater in Waverly, which is getting $275,400 in tax credits.

IEDA says it received 133 applications requesting nearly $79 million in tax credits.