Iowa announced that all applicants interested in participating in the Innovation Set-Aside during the 2025 allocation year must submit a pre-application through the LIHTC Online Application which includes a $500 application fee. The deadline for submission of the pre-application is May 1 at 4:30 p.m. CT. The second annual set-aside solicits creative proposals from developers for housing projects serving special targeted populations or using innovative construction, financing or operations, unique partnerships or other innovations of which otherwise are not feasible through the 9 percent Tax Credit round. The most competitive projects will have multiple innovations and support the Federal HTC program’s mission and goals that include partnerships, affordability, durability and location.