DES MOINES, IOWA (February 19, 2025) — The Iowa Finance Authority (IFA) recently recognized CT Development as the recipient of the Excellence in Development designation for 2024.
“This designation highlights a developer who exemplifies strong partnerships and a commitment to excellence in creating affordable housing through the Federal Housing Tax Credit Program to help ensure that quality, affordable homes remain accessible to income-eligible Iowans,” said IFA Director Debi Durham.
IFA annually recognizes development companies awarded Federal Housing Tax Credits that exemplify excellence and go above and beyond to advance affordable-housing opportunities for Iowans. This prestigious designation is granted on a competitive basis to honor the top affordable-housing development partners working in Iowa.
The designation showcases proven dedication to excellence, participation, and results. This includes meeting deadlines for allocation checkpoints, submitting applications that are thorough and complete for review that require minimal comments, and actively participating in policy planning, training, and feedback opportunities.
CT Development, based in Des Moines, Iowa, is a family-owned real-estate development company specializing in affordable housing for seniors 55 and older. Since the late 1990s, the company has grown from managing single-family rentals to developing affordable housing buildings.
“Our passion for affordable housing led us to IFA’s Low-Income Housing Tax Credit program in 2007, providing us new opportunities to serve our community,” said Tim Mauro, Owner of CT Development. “As of today, we’ve developed nine affordable housing projects, totaling 340 units across central Iowa. None of this would be possible without the incredible support of the IFA team, our valued partners in making affordable housing a reality for Iowans.”
