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Iowa Governor announces federal coronavirus funds to be used to build new homes

Iowa Gov. Kim Reynolds speaks to reporters following a news conference, Thursday, Aug. 19,...
Iowa Gov. Kim Reynolds speaks to reporters following a news conference, Thursday, Aug. 19, 2021, in West Des Moines, Iowa. Reynolds lashed out at President Joe Biden Thursday after he ordered his education secretary to explore possible legal action against states that have blocked school mask mandates and other public health measures meant to protect students against COVID-19. Reynolds, a Republican, has signed a bill into law that prohibits school officials from requiring masks, raising concerns as delta variant virus cases climb across the state and schools resume classes soon. (AP Photo/Charlie Neibergall)(AP Photo/Charlie Neibergall)
Published: Sep. 8, 2021 at 3:14 PM CDT
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CEDAR RAPIDS, Iowa (AP) - Iowa Gov. Kim Reynolds has announced that $100 million of the nearly $1.5 billion in federal coronavirus relief funds allocated to the state will go to build new homes.

The Des Moines Register says Reynolds announced the plan Wednesday during a stop in Cedar Rapids.

She says the federal funds plus $230 million in tax credits allocated by the Iowa Legislature over five years will help developers build 36,450 new housing units to help address a growing shortage of housing in Iowa.

The $100 million will go to several existing programs, including $10 million for the Homes for Iowa.

The vast majority - $65 million - will fund housing tax credit programs to help cover the increased costs of building materials.

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