Heart of Iowa Trust Fund reports $500,406 in 2024 spending, asks counties to consider increased match for 2026

A representative of the Heart of Iowa Trust Fund updated the Humboldt County Board of Supervisors on housing projects and asked the board to consider a commitment that would support a projected increase in required matching funds for future applications to the Iowa Finance Authority.

The presenter said two housing projects were completed in Humboldt in 2024 and two projects were pending in Gilmore City and Redwood. "The total funds that we will expend this year is $500,406. Our match funds for 2024 were $100,277," the presenter said, adding the program has benefited five houses in the county through repairs and rehabilitation.

The presenter described the program's beneficiaries as low-income households (citing 30% area median income levels for most recipients and two at the 50% level) and said repair costs have risen, reducing the number of homes helped per dollar.

On future funding, the presenter said the Trust Fund will apply to the Iowa Finance Authority and needs a county commitment by the June application window. The presenter said the county contributed $5,000 this year and the city provided roughly $7,000 toward a $12,000 match; for the 2026 application the presenter projected a total match of about $14,000 and said the county's share would be approximately half (about $7,300), subject to final budgets.

The board asked questions about the scope and administration of the program; the presenter said administrative tasks and application processing are handled by staff in Fort Dodge and that applicants must meet Iowa Finance Authority standards. Supervisors did not take a formal vote at the meeting; the board was asked to consider including a commitment in its upcoming budget process to support the Trust Fund's application.