Clear Lake, Iowa, has achieved a significant milestone, earning the esteemed Thriving Communities designation—a recognition poised to dramatically accelerate its housing development initiatives and economic growth across the state.
This coveted status was bestowed upon Clear Lake by both the Iowa Finance Authority and the Iowa Economic Development Authority, distinguishing it from a competitive field of 22 highly qualified applicants. The selection underscores the city’s exceptional readiness and strategic positioning for substantial investment in its residential infrastructure.
The Thriving Communities designation provides Clear Lake with a powerful advantage, making it an exceptionally attractive prospect for developers seeking to initiate high-quality housing projects. This strategic edge is critical in today’s competitive development landscape, ensuring the city stands out.
A key benefit of this designation is the immediate “bonus points” developers receive when applying for vital state and federal housing incentives. These incentives encompass crucial areas such as workforce housing, market-rate housing, and affordable housing, creating a comprehensive framework for diverse residential solutions.
Chad Schreck, president and CEO of the North Iowa Corridor Economic Development Corporation, emphasized that Clear Lake is now “one of the most competitive communities in Iowa for housing projects.” This is largely attributed to its existing “shovel-ready sites” and robust local support systems.
While the Thriving Communities program does not directly provide tax credits to the city, its primary mechanism is to grant priority scoring to developers. This ensures that projects within designated communities, like Clear Lake, receive preferential consideration for necessary funding and support.
City Administrator Steve Diers affirmed the critical link between housing and economic vitality, stating, “We know housing is economic development.” The designation is instrumental in ensuring Clear Lake maintains its appeal as a community where individuals of all ages, incomes, and abilities can reside and prosper.
This strategic classification is expected to catalyze a new wave of construction, stimulating job creation, increasing property values, and attracting new residents to the area. It represents a forward-thinking approach to urban planning and sustainable growth within the state.
Ultimately, the Thriving Communities designation reinforces Clear Lake’s commitment to progressive development and its vision for a vibrant, inclusive future, setting a benchmark for other communities across Iowa seeking similar transformative growth.
