The Eastern Iowa Development Corporation was formed as a wholly owned, for-profit subsidiary of the Eastern Iowa Regional Housing Corporation. The Eastern Iowa Regional Partnership, LLLP is the general partner for the Peosta site and Asbury EIRP, LLLP is the general partner for the Asbury site. In 2003 and 2005, the Corporation was awarded Low Income Housing Tax Credits (LIHTC) from the Iowa Finance Authority (IFA) and HOME funds from the Iowa Economic Development Association (IEDA) to construct a 24-unit 2-, 3- and 4-bedroom housing development in Peosta, IA and a 32-unit 2-, 3- and 4-bedroom housing development in Asbury, Iowa for low to moderate income households.
Amenities include central air conditioning, garbage disposal, washer/dryer hookups in units, coin operated washers/dryers located in the Community Room, dishwasher, microwave, ceiling fans, off-street parking, storage, computer center w/internet, playground and pavillion area, maintenance staff (on-call) and a Site Manager is available Monday-Friday during office hours.
After the application is received, applicants are placed on a waiting list. When the applicant reaches the top of the waiting list they are then mailed a preliminary briefing packet which they need to complete and return to the office. After the screening process is completed, applicants are then offered a unit.