Iowa County agrees to $500 increase for Housing Trust Fund

MARENGO — Iowa County Supervisors agreed this month to give $3,900 to East Central Iowa Housing Trust Fund. It’s a small contribution that allows the county access to hundreds of thousands of dollars for projects that benefit low- and moderate-income residents.

The contribution is $500 more than what the county gave last year, but still a small percentage of the Trust Fund’s total budget of $560,000.

The Housing Trust Fund is a community-based nonprofit organization dedicated to improving quality of life by offering funding to expand affordable housing in Benton, Iowa, Jones and Washington Counties, according to Executive Director Tracey Achenbach.

Its board of directors is composed of two representatives from each of the counties it serves. Chris Montross and Laura Sauser represent Iowa County.

The Trust Fund helps developers finance housing for low- to moderate-income residents. It also funds rehabilitation projects for those residents, said Achenbach.

The primary source of funding for the Trust Fund is the State of Iowa’s Local Housing Trust Fund program, funded by the legislature and from real estate transfer tax.

When applying for the state funds, ECIHTF must provide a 25% local match. Part of the local match may be provided through other grants, but at least 10% must come from local sources within the region, Achenbach said.

The four counties in the East Central Iowa region contribute to the Trust Fund based on population. Iowa County, with 16,662 residents, has 19.5% of the total population, hence ECIHTF’s request for $3,900 from Iowa County.

Benton County, with a population of 25,575, has nearly 30% of the region’s population, so its share is nearly $6,000. Washington County has a population of 22,565, 26.4% of the region. The Trust Fund is requesting $5,282 from that county and $4,832 from Jones County, which has a population of 20,646, 24.16% of the region’s population.

Achenbach said the Trust Fund provides a return of $4 for every $1 invested.

In Fiscal year 2025, ECIHTF was awarded $435,896 from the state, which required nearly $110,000 in a local match, Achenbach said.

The funds are made available to organizations and entities that improve housing for people of low- to moderate-income. They can also be used toward owner-occupied rehabilitation of homes in the four-county region.

ECIHTF has given more than $1 million in Iowa County since it began in 2011, said Achenbach.

Last year, ECIHTF awarded $193,950 for an initiative in Iowa County.

“While I think housing is the most important thing,” Auchenbach said, the Trust Fund provides other services to a lot of communities.

In some communities, the Housing Trust Fund provides nuisance enforcement. It sends housing inspectors to look at properties, which takes the burden off communities.

The Trust Fund provides money to help homeowners rehabilitate their house and for emergency repairs, such as replacing furnaces or water heaters.

Iowa County homeowners don’t apply for much, said Achenbach, but Marengo Housing Corp received funds to rehab two units last year, and the Victor Senior Housing project received $158,500 and benefited 16 households.

“You guys had the most money this year,” said Achenbach. The county received awards totaling $193,950 affecting 20 households, she said.

“I think we make good use of the money,” said Achenbach. “We’re not just helping the homeowners,” she said. Improvements to homes improve entire neighborhoods.

Achenbach has been heading up the Trust Fund since 2011. She plans to retire in May.