February 19, 2025 (DES MOINES) – The Iowa Finance Authority (IFA) has honored CT Development with the Excellence in Development designation for 2024.
This designation recognizes a developer that demonstrates strong collaboration and a commitment to excellence in creating affordable housing through the Federal Housing Tax Credit Program, ensuring that quality, affordable homes remain reachable for income-eligible Iowans,
stated IFA Director Debi Durham.
The IFA annually acknowledges development firms granted Federal Housing Tax Credits that exemplify outstanding contributions and strive to enhance affordable housing opportunities within Iowa. This esteemed designation is awarded on a competitive basis to celebrate the leading affordable housing development partners operating in the state.
The award reflects a proven commitment to excellence, involvement, and results. This encompasses meeting deadlines for allocation checkpoints, submitting applications that are comprehensive and thorough with minimal feedback needed, and actively engaging in policy planning, training, and feedback sessions.
CT Development, located in Des Moines, Iowa, is a family-operated real estate development firm focused on affordable housing for seniors aged 55 and above. Since the late 1990s, the company has evolved from managing single-family rentals to developing affordable housing complexes.
“Our dedication to affordable housing led us to the IFA’s Low-Income Housing Tax Credit program in 2007, presenting us with new avenues to serve our community,” shared Tim Mauro, Owner of CT Development.
To date, we have developed nine affordable housing projects, aggregating 340 units throughout central Iowa. None of this would have been feasible without the tremendous support from the IFA team and our esteemed partners in making affordable housing a reality for Iowans.
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