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Housing Fund for Linn County (HFfLC) Funding Summary The HFfLC periodically makes funding available through a competitive Request for Proposals (RFP) process to assist affordable housing projects within Linn County. At least 30% must be dedicated to assist very low-income households. Generally, funds distributed in the form of zero or low-interest loans will return to HFfLC to be redistributed in the community (70% as an objective); principally to benefit extremely low-income households. The HFfLC has been successful in securing financial resources to assist affordable housing projects proposed within Linn County. Following is a summary of contributing supporters and the status of assisted housing projects. 2007 - 2008. Funding donations/awards were contributed during 2007 by: AEGON Transamerica Foundation; Cedar Rapids Bank and Trust; East Central Iowa Council of Governments (ECICOG); Farmers State Bank; Greater cedar Rapids Community Foundation; Guarantee Bank; Hills Bank and Trust; Iowa Finance Authority (IFA) / State Housing Trust Fund; Linn Area Credit Union; Linn County, Iowa; Mount Vernon Bank & Trust; and US Bank. To principally assist with flood recovery efforts through the provision of rent and utility / security assistance, the HFfLC approved the following grants from this funding in 2008: (1) $10,000 to the Affordable Housing Network, Inc.; (2) $32,500 to the Helping Hands Ministry; and (3) $32,500 to Irving Point, LP. Additional assistance awards pending. 2008 - 2009: Funding donations/awards were contributed during 2008 by: AEGON Transamerica Foundation; Bradley & Riley, PC; City of Cedar Rapids, Iowa; Farmers State Bank; Federal Home Loan Bank of Des Moines; Hills Bank & Trust; Iowa Finance Authority (IFA) / State Housing Trust Fund; Mount Vernon Bank & Trust Co.; Mount Vernon Bridge Bank; Rockwell Collins; and Wells Fargo. Assistance awards pending. Questions and comments should be directed to Gary Hughes, Planner, at 319/365-9941 ext. 129 or gary.hughes@ecicog.org Links: ECICOG 700 16th Street NE, Suite 301 Cedar Rapids, IA 52402 |