$35.9 Million in Workforce Housing Tax Credits to Boost Projects Across Iowa

We hike Pulpit Rock for the views — and for the stories waiting at the top. Support Decorah News today. DES MOINES, Iowa — The Iowa Economic Development Authority (IEDA) announced $35.9 million in workforce housing tax credits to support development in 36 counties across the state, including a project in Decorah that will create nine new residential units in the city's historic Anundsen Building. Statewide, the awards will fund 63 projects expected to create nearly 2,000 new residential units—1,217 in large communities and 752 in smaller towns. "When families can find quality, affordable homes, they put down roots—and that gives businesses the steady workforce they need," said Debi Durham, director of IEDA and the Iowa Finance Authority. "It's that kind of stability that keeps our communities strong and our economy moving forward." The Decorah project, led by Decorah Real Estate GP LLC, received $208,958 in workforce housing tax credits. The investment will rehabilitate the Anundsen Building, breathing new life into the historic property while expanding housing options in downtown Decorah. IEDA received 137 applications requesting about $83 million in tax credits. Of the $35 million available for fiscal year 2026, $17.5 million was specifically reserved for projects in Iowa's 88 least-populated counties. Applications were evaluated on readiness, financing, community impact, developer experience and innovation. The Workforce Housing Tax Credit program supports projects that redevelop abandoned, vacant or deteriorated properties, or build new housing in communities where demand is strong. For more information about the program and to view a complete list of awards, visit iowaeda.com/workforce-housing-tax-credit. Don't miss out on important updates! Subscribe to the newsletter for free and stay informed about local topics that matter most to you.