New organization hopes to help with low-income housing

A new non-profit corporation is up and running in Iowa with the hopes of spurring investment in low-income housing. Renie Nueberger is the executive director of the Iowa Equity Fund.She says I-E-F purchases the low income tax credits given for low-income housing on behalf of investors. The corporation provides, equity, asset management and compliance management to investors. Neuberger says the idea has been used successfully in Nebraska and Kansas.She says having such an organization in Iowa will hopefully allow them to provide a higher price for the tax credits, as she says east and west coast organizations haven’t been interested in the Midwest. Nueberger says the organization can help investors, and those who need low-income housing. Nueberger says the organization was officially unveiled today, but has been up and running for three weeks.