$2.3M to go to rehab in Cedar Rapids, rental help in Waterloo, I - KWWL - Eastern Iowa Breaking News, Weather, Closings

$2.3M to go to rehab in Cedar Rapids, rental help in Waterloo, Iowa City

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The Iowa Finance Authority is awarding nearly $2.3 million in federal dollars to affordable housing initiatives.

The grants and loans announced Wednesday will provide housing for an estimated 326 families in Iowa. The funding came from the U.S. Department of Housing and Urban Development and is geared at increasing affordable housing.

Funding is going to a home rehabilitation project in Cedar Rapids and to rental assistance efforts in a number of cities, including Cedar Rapids, Des Moines, Waterloo and Iowa City.

The Iowa Finance Authority was founded in 1975 to work on housing for low-income state residents.

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