Kalona, IA, Jun 25, 2011 -- Kim Regennitter with USDA Rural Development was in Kalona today to help celebrate a recently completed expansion project at Kalona Valley Apartments.
USDA Rural Development provided $220,000 in loan funds to assist with the construction of five two-bedroom units at the apartment complex.
Kalona Valley Apartments, which was originally constructed in 1979, now offers residents with a total of 48 one- and two-bedroom apartments. The complex is located at 706 C Avenue in Kalona.
Three of the new units will be occupied by the end of June and two remain available to rent.
“We are extremely pleased to be assisting Kalona Valley Apartments with this expansion project that will add housing opportunities for rural Iowans,” said Bill Menner, USDA Rural Development State Director in Iowa. “Safe and affordable housing options are fundamental to a community’s capacity for growth.”
USDA Rural Development currently provides financing for 500 multi-family housing projects in rural Iowa. These facilities provide rural Iowans with access to more than 9,600 apartments. Rent in the apartments is based on income and rent assistance from the government is available depending on the income of the tenant.
USDA Rural Development is an equal opportunity lender with a variety of direct and guaranteed rural credit programs involving single and multi-family housing, community facilities, water and sewer development and business programs.
During the past year USDA Rural Development helped a record number of Iowans receive funding for economic development projects and quality of life improvements. The agency’s investment in Iowa helped create or retain more than 2,200 jobs, aided 2,500 families in buying their own homes and assisted more than 250 communities in improving community facilities and upgrading local infrastructure.
Contact USDA Rural Development
Residents in southeast Iowa are served by the USDA Rural Development office in Mt. Pleasant.
For more information about housing programs through USDA Rural Development, please call (319) 986-5800 Ext. 4. The Mt. Pleasant office serves residents Keokuk, Washington, Muscatine, Louisa, Jefferson, Henry, Des Moines, Van Buren and Lee Counties.
USDA Rural Development has 11 offices across the state to serve the 1.7 million Iowans living in rural communities. Office locations include a State Office in Des Moines, along with Area Offices in Albia, Atlantic, Humboldt, Indianola, Iowa Falls, Le Mars, Mount Pleasant, Storm Lake, Tipton and Waverly.
Further information on programs available through USDA Rural Development is available by visiting the agency’s web site at www.rurdev.usda.gov/ia.
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