Jul 1, 2022 - News

16 Des Moines housing proposals vie for state tax credits

A photo of 3614 6th Ave. in Des Moines.
3614 6th Ave. in Des Moines. Photo courtesy of the Polk County Assessor

Des Moines' city government is endorsing 16 housing projects for a state tax credit program.

  • Applications for the program are due Friday.

Why it matters: The housing projects could add as many as 662 new apartments with a combined construction cost of about $159 million, according to city documents.

  • Multiple proposals include rehabs to historically significant buildings.

Catch up fast: The state-administered Workforce Housing Tax Credits provides up to $1 million of benefits per project.

  • Per-unit construction costs are capped to maintain affordability for entry-level workers, students, seniors, people with disabilities and families.
  • Just over a third of applicants to the state's program — 49 of 137 — won awards last year.

A few of the proposals:

What's next: Awards are generally announced in the fall.

Read about the other projects.

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