DES MOINES, IOWA (June 16, 2023) — Governor Kim Reynolds celebrated national home-ownership month Thursday, June 15, with the announcement of the opening of the second-annual Iowa Homeownership Incubator competition. The Iowa Homeownership Incubator is a challenge to Iowa lending institutions and real-estate professionals to think innovatively about advancing financial literacy around home-ownership among all Iowans, with the winning idea receiving a $20,000 grant to help implement the initiative.
“Home-ownership is one of the leading drivers of economic security and wealth creation for Iowans which is why we're pleased to announce the Iowa Homeownership Incubator to help drive innovation in this area,” said Gov Reynolds. “Iowa is already ranked among the top in the nation for first-time home-buyers and supporting financial-literacy efforts will allow us to welcome many more Iowans home.”
“Home-ownership benefits Iowans, communities, and businesses alike,” said Iowa Finance Authority and Iowa Economic Development Authority Director Debi Durham. “The ability to affordably own a home is a key element to attracting and retaining our workforce but Iowans first must realize that home-ownership may be within their reach, which is exactly what this incubator competition sets out to do.”
The Iowa Homeownership Incubator requires partnerships amongst a lending institution or real-estate company and a community organization or business, and the winning pitch will be awarded $20,000 to educate Iowans about financial literacy as it relates to home-ownership and assistance programs available to them, including IFA’s programs for low to moderate home-buyers.
Proposals must be submitted by 5PM on August 1. Finalists will be determined by the Iowa Finance Authority and the Iowa Association of REALTORS® and will be invited to make their pitch to a panel of industry judges, who will determine the winner at the HousingIowa Conference in Cedar Rapids on September 6.
“It’s no secret that homeownership is good for Iowans and good for Iowa,” said Iowa Association of REALTORS® CEO Gavin Blair. “We look forward to seeing the innovative ideas for moving financial literacy around home-ownership forward so we can open the door to home-ownership for many more Iowans.”
More information about the Iowa Homeownership Incubator, including submission guidelines is available at housingiowaconference.com.