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Housing fund will get money from City of Decorah

Posted: Tue, Oct 4, 2011 10:01 PM

The City of Decorah will contribute $5,000 to the Northeast Iowa Regional Housing Trust Fund.

The money comes from TIF projects within the city.  As part of the tax incremental financing rules, money must be set aside to help pay for low to moderate income housing projects. 

The latest contribution would bring to $29,000 the amount of money contributed to low to moderate income housing projects by the City of Decorah in the past three years. There is still $218,418 in the TIF-LMI set-aside fund.