Plans to convert two former elementary school buildings in Iola to housing are a big step closer to moving forward.
The Kansas Housing Resources Corporation announced Monday award of funding through the federal and state Low Income Housing Tax Credit programs totaling 1.7 million dollars to Iola Redevelopment LLC, which will allow work to proceed on conversion of Jefferson and McKinley Elementary Schools.
This project, which has been in the works for several years, had two prior funding requests turned down. This year, the Health Forward Foundation doubled their match requirement, which gave the project developer BNIM out of Kansas City the necessary points to obtain credits.
The project for the two schools involves development of 49 rental units, including duplexes on the McKinley property, 33 of which will be designated for low income housing.
The two schools along with Lincoln Elementary School were closed when the current Iola Elementary School opened in 2022. Plans for the former Lincoln property continue to be explored.Â
