Revolving Loan Program

Revolving Loan Program

Geographic Scope: Johnson County, Iowa

Mission: Safe, decent and affordable housing for all in Johnson County

Overview: The Housing Trust Fund of Johnson County offers flexible financing through their Revolving Loan Program to help make affordable housing efforts financially feasible. Funds are offered on a quarterly basis.

Eligible Applicants

• Businesses
• Nonprofits
• Governmental entities
• Must have sufficient administrative capacity and successful track records
• Funding is NOT available to individuals for personal use

Eligible Activities

• Programs and projects addressing housing needs of Johnson County residents
• Target income: Household income at or below 80% of Area Median Income (AMI)
• Construction or rehabilitation of:
- Affordable rental housing - Owner-occupied housing - Transitional housing - Shelter facilities

Funding Terms

• Applicants propose their own funding amount and terms
• No interest or very low interest loans for projects that:
- Require only short-term financing, OR - Serve lower income populations (especially extremely low-income households, below 30% AMI)
• Below market interest rates for:
- Longer-term loans - Projects serving higher income populations
• Final terms determined by Board of Directors based on project risk, outstanding obligations, anticipated repayments, and portfolio diversity

Maximum Funding Guidelines (Spring Round)

New Units:

Shelter beds: $25,000

Studio and one-bedroom apartments: $75,000

Two-bedroom units: $100,000

Three-bedroom units: $125,000

Four-bedroom units: $150,000

Rehabilitated Units:

Shelter beds: $12,500

Studio and one-bedroom apartments: $37,500

Two-bedroom units: $50,000

Three-bedroom units: $62,500

Four-bedroom units: $75,000

Important Dates

• Funding rounds offered quarterly
• Board determines amount of funding available approximately one month before each deadline
• Funding decisions made approximately 30 days after application deadline
• HTFJC will consider requests outside regular timeline if compelling need shown and project aligns with Trust Fund goals

Contact Information

• Phone: 319-358-0212
• Email: info@htfjc.org or emccabe@htfjc.org
• Physical Location: 26 E. Market Street #123, Iowa City, IA 52245
• Mailing Address: PO Box 2446, Iowa City, IA 52244

Note: All prospective applicants should contact HTFJC before beginning an application.