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Peosta Evergreen Meadows 110 Peterson Dr., Peosta, IA (Transfer of Tax Credit Property)

In March 2003, the Eastern Iowa Regional Housing Corporation (EIRHC) was awarded Low Income Housing Tax Credits (LIHTC) from the Iowa Finance Authority (IFA) and HOME funds from the Iowa Department of Economic Development to construct a 24 unit 2, 3, and 4 bedroom housing development for low to moderate income households at 110 Peterson Drive, Peosta, Iowa.

A new for-profit entity was formed as a subsidiary of EIRHC, the Eastern Iowa Regional Partnership, LLLP, to act as the General Partner in the housing project. A for-profit entity, the Eastern Iowa Development Corporation (formerly known as Evergreen Meadows, Inc.), was also developed and is a wholly owned tenant occupying the units in June 2004.

The Syndicator, Enterprise Housing Partners XI Limited Partnership (EHP11), limited partner interest in the Eastern Iowa Regional Partnership LLLP was fulfilled on December 31, 2018 and transferred to the new General Partner, the Eastern Iowa Regional Housing Corporation.

On January 1, 2019, the Eastern Iowa Regional Partnership, L.L.L.P transferred the Limited Partnership interest for debt only, for the Evergreen Meadows Tax Credit property, to the Eastern Iowa Regional Housing Corporation (EIRHC). The EIRHC intends to maintain the property as affordable housing over the extended use period.

Peosta Evergreen Meadows – 110 Peterson Dr., Peosta, IA – 24 units – floor plans

Asbury Meadows 2325 Radford Road, Asbury, IA

In March 2005, the Corporation was awarded Low Income Housing Tax Credits (LIHTC) from IFA and HOME funds from the Iowa Department of Economic Development to construct a 32-unit 2, 3 and 4 bedroom housing development for low to moderate income households in Asbury.

The for-profit entity that was formed as a subsidiary of EIRHC, the Asbury E.I.R.P., L.L.L.P., is the General Partner in the housing project. The for profit entity, Eastern Iowa Development Corporation (formerly known as Evergreen Meadows, Inc.), was also developed and is a wholly owned subsidiary of the EIRHC. Lease-up of the units began July, 2006 with final lease-up October 2006.

Asbury Meadows – 2325 Radford Rd, Asbury, IA – 32 units – floor plans

Amenities for both properties 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 with internet, playground and pavilion area, maintenance staff (on-call) and a Site Manager is available Monday-Friday during office hours.

Income Guidelines

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.