More than $2.25 million awarded to housing projects in Clear Lake, Mason City and Ventura
Four housing projects in Cerro Gordo County have been awarded more than $2.25 million through the Iowa Economic Development Authority’s Workforce Housing Tax Credit program. Together, the projects are expected to create 133 new housing units across Clear Lake, Mason City and Ventura.
Statewide, IEDA awarded $39.84 million to 69 projects that will create 2,093 residential units. The agency received 117 applications requesting a total of $72.6 million in tax credits.
Cerro Gordo County Housing Projects
Clear Lake
- Panther Builders | Clear Lake Housing Addition | 9 units | $327,024
- L&J LLC | Lakeside Acres Phase 1 – Detached Single-Family Housing | 12 units | $400,449
Mason City
- Kading Properties | Willow Pointe | 98 units | $1,000,000
Ventura
- JMS Property Management LLC | McIntosh Ridge Estates Housing Project | 14 units | $530,777
Supporting Regional Housing Growth
The region has gained increased visibility and developer interest through the Thriving Communities program. Mason City received the designation in 2024, followed by Clear Lake in 2025. The program recognizes communities taking a coordinated approach to housing needs and economic growth.
“We are excited to see our communities continue to have success with the Workforce Housing Tax Credit program,” said Chad Schreck, President and CEO of the North Iowa Corridor Economic Development Corporation. “New housing is critical to meeting workforce needs and ensuring people have quality places to call home. We appreciate the developers investing in Clear Lake, Mason City, and Ventura to add more than 130 attainable housing units. These projects will have a lasting impact on our communities and regional economy.”
Expanding Housing Choices Across the County
The awarded projects will add several types of housing across Cerro Gordo County. They also reflect investment from both local and regional developers.
“These awards demonstrate the strength and diversity of housing development happening across Cerro Gordo County,” said Shelley Oltmans, Vice President of Housing and Community Development for the North Iowa Corridor. “We are seeing investment in everything from single-family homes and neighborhood developments to larger multifamily projects. The involvement of both local and regional developers is helping us expand housing choices, support workforce growth and position our communities for long-term success.”
About the Workforce Housing Tax Credit Program
The Workforce Housing Tax Credit program offers state tax incentives for qualifying housing projects in Iowa. The program supports both new construction and housing rehabilitation.
IEDA evaluates applications based on several factors. These include project readiness, financing, community impact, developer experience and innovation.
The Cerro Gordo County housing tax credits will help expand the region’s housing supply. In turn, these projects will support workforce recruitment, business growth and long-term community vitality.
View the complete list of 2026 Workforce Housing Tax Credit awards here.