Vera French awarded $9.4M to build 30 affordable and supportive housing units

The Iowa Finance Authority has awarded over $9.4 million to Vera French to build 30 affordable and supportive housing units.

The funding award is to support the construction of Carol’s Village Gardens, a 30-unit housing development with 26 one-bedroom and four two-bedroom units. According to a release the project will be next to Vera French’s Carol Center at 808 N. Harrison St., Davenport, and will complement the current outreach programs at the Carol Center to answer people’s basic needs, assist with workforce re-entry and offer social engagement for those in recovery.

“Carol’s Village Gardens bridges the gap between unstable living situations and permanent supportive housing,” Stacy Kiser, executive director of Vera French Housing, said. “A safe, decent place to live is vital to allowing people to focus on their mental and physical well-being. With this investment in our community by the Iowa Finance Authority, Vera French can continue our mission to help more people striving to recover from mental illness.”

According to the release:

The new funding award includes Low Income Housing Tax Credits and HOME funds by the Iowa Finance Authority in its most recent annual allocation round. Each spring the Iowa Finance Authority (IFA) takes applications for the highly competitive Low Income Housing Tax Credits. IFA selected Vera French’s project out of 24 other applications. As part of that process, IFA also designated Vera French Community Mental Health Center as a Community Housing Development Organization or CHDO, which allows Vera French to access additional funding for affordable housing development beyond Carol’s Village Gardens.

Vera French Foundation

Since the early 1990s, Vera French has recognized the critical link between stable housing and mental health recovery. Recent additional investments in housing include the 2022 purchase of 14 affordable housing units in Davenport. Vera French Housing now oversees 142 housing units across 25 buildings in Davenport and Bettendorf.

No diagnosis is required to apply for a unit in Carol’s Village Gardens. Applicants will be considered based on income eligibility, with a small number of units set aside for people experiencing homelessness. For more information, click here.