Downtown Resource Center
Finding Sources for Project Funding
Below are a series of funding sources to investigate. Keep in mind not all funding sources will be applicable for all projects and/or communities.
Assists communities with the redevelopment, rehabilitation or deconstruction of buildings to stimulate economic growth or reinvestment in the community.
The newly created Downtown Housing Grant provides $20 million in financial assistance for projects supporting local downtown revitalization through new and renovated housing opportunities in communities under 30,000.
This new program encourages Iowa downtown businesses and financial institutions to reinvest and reopen stronger following the COVID-19 crisis. Iowa Economic Development Authority (IEDA), in partnership with the Iowa Finance Authority (IFA), will provide financial assistance in the form of loan guarantees for eligible downtown revitalization projects.
The Downtown Revitalization Fund Community Development Block Grant provides grants to communities for downtown façade improvements.
The DNR Derelict Building Program offers Iowa communities of 5,000 or fewer residents' financial assistance to address/rehabilitate neglected structures that have sat vacant for at least six months.
The Historic Preservation and Cultural and Entertainment District Tax Credit Program provides a state income tax credit for the sensitive, substantial rehabilitation of historic buildings.
Loans secured through this program may be used for the demolition or remediation and reuse of residential, commercial or industrial structures.
The Iowa State Historic Preservation Office provides a number of financial incentive opportunities to support building rehabilitation efforts.
Developers building, rehabilitating or developing housing in downtown upper floor spaces in Iowa in order to meet workforce housing needs may be eligible to receive certain state tax incentives.