Charles City One of Only Three to Qualify for Up to $2 Million in Housing Tax Credits

Earlier this week, the Iowa Finance Authority announced Charles City as one of 11 “Thriving Communities” in Iowa.

City Administrator Steve Diers says officials made their pitch on Friday (08.11) for $1 million in Iowa Workforce Housing housing tax credits. Monday (08.14), the City was among the few to be doubly rewarded.

By qualifying for $1 million in both Iowa Workforce Housing and Affordable Housing tax credits, Charles City can offer $1 million in tax credits to two developers and possibly two housing projects.

The current focus is building apartments on land just west of Floyd County Medical Center, donated by the Charles City Area Economic Development Corporation.

And, being a “thriving community” goes hand-in-hand with the need for housing.

Next up is attracting developers to build in Charles City, which comes during the Housing Iowa Conference next month in Cedar Rapids.