DES MOINES, Iowa- Today the Polk County Board of Supervisors approved a $15 million dollar investment to increase affordable housing in the community.

The funding is part of the $95 million awarded to Polk County from the American Rescue Plan Act.

“These funds are focused on supporting individuals in our community who are below 30% of area median income. For a single individual This is an income of $19,000 per year. And for a family of four, this is an income of $27,000 per year,” said Angela Connolly, the Chair of the Polk County Board of Supervisors.

The money is focused on supporting individuals in the community who are below 30% of the area median income.

The $15,150,000 investment for housing will be used in 3 different ways:

  1. $12 million to build complexes
  2. $3 million for loans or pre-development expenses
  3. $150,000 to hire community advocates for a two year pilot program. 

“We know that housing is really foundational to everything that we value about this community. And by targeting folks who are the most rent burdened in the community, that is the folks that are literally paying in many cases 50 or 60% of every dollar they earn on housing will make not only an incredible difference to those families and those individuals, but will make an incredible difference in this community,“ said Eric Burmeister, the Executive Director with Polk County Housing Trust Fund.