Evergreen Meadows

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 $2.64 million in 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.

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

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.

Evergreen Meadows Income Limits
County Median Household Size
  1 2 3 4 5 6 7 8
HERA MTSP - 50% 37,300 42,600 47,950 53,250 57,550 61,800 66,050 70,300
HERA MTSP - 60% 44,760 51,120 57,540 63,900 69,060 74,160 79,260 84,360
HOME - 40% 28,760 32,880 37,000 41,080 44,400 47,680 50,960 54,240
HOME - 50% 35,950 41,100 46,250 51,350 55,500 59,600 63,700 67,800
Pub. 4/1/25