Almost $100,000 awarded for local furnace replacements

By Bob Steenson, bsteenson@charlescitypress.com

The Iowa Finance Authority approved a total of $7.4 million in grants this week to 25 local housing trust funds to support affordable housing programs.

Floyd County will get almost $100,000 of that.

The NIACOG Housing Trust Fund will receive $240,681 for Cerro Gordo and Floyd counties.

Myrtle Nelson, senior planner with the North Iowa Area Council of Governments, said the money is split between Cerro Gordo and Floyd counties and Floyd County’s share will be $99,445.

Tim Fox, executive director with the Charles City Area Development Corp., said Floyd County’s share will be matched with $27,313 from a grant from the U.S. Department of Agriculture, and the money will be used to continue the county’s furnace replacement program.

The Floyd County Housing Trust Fund covers 100 percent of the cost of replacing a furnace for households that meet these guidelines: $20,970 annual income for households with 1-2 members, $24,115 annual income for households with 3-7 members, and $25,312 annual income for households with 8 members.

The Housing Trust Fund will cover 75 percent of the cost of furnace replacement for homes that meet these guidelines: $34,950 annual income for 1-2 members, $40,192 for 3-7 members and $42,187 annual income for 8 members.

Applicants for the program must also own and occupy their home, be current on taxes and property insurance, and the existing furnace must be at least 10 years old.

“We encourage Floyd County residents to apply for furnace replacement,” Fox said. The program has replaced more than 300 furnaces in the county in the past decade, said Fox, who is also vice-chairman of the local housing trust fund.

The application period for this year is nearing its end.

Applications are due by Dec. 15 and are available at the Charles City Area Development Corp. office, 401 Main St., Charles City; by calling 641-228-3020; or by emailing tfox@charlescityia.com.

Applications are also available at www.charlescityia.com, and are available in Spanish and Tagalog.

The Iowa Finance Authority estimates the trust fund grants awarded this week will assist more than 2,600 Iowa families.

In addition to Floyd County’s furnace replacement program, other area housing trust funds preserve aging housing stock, subsidize local down payment assistance programs, provide low-interest loans or grants for home rehabilitation, finance construction of new single-family housing for low-income Iowans and support housing for persons with disabilities and homeless assistance programs.

The State Housing Trust Fund was created by the Iowa Legislature in 2003. Since then the program has provided $63 million in affordable housing assistance that has helped nearly 23,000 Iowa families.

Other area groups receiving funds are:

• Homeward Housing Trust Fund,  $324,374 — Calhoun, Franklin, Hancock, Humboldt, Kossuth, Mitchell, Palo Alto, Pocahontas, Winnebago, Worth and Wright counties.
• Iowa Northland Regional Housing Council Local Housing Trust Fund, $312,626 — Black Hawk (excluding Waterloo and Cedar Falls), Bremer, Buchanan, Butler, Chickasaw and Grundy counties.