Diane Quihuis, president of the Pima County Industrial Development Authority, announced a significant win for the local community as the Pima IDA took home the 2024 Single Family Award of Excellence from the National Association of Local Housing Finance Agencies this month. The accolade, meant to honor innovative and effective local housing initiatives, goes to the PimaTucson Lighthouse program, a joint effort with the City of Tucson Industrial Development Authority.

The PimaTucson Lighthouse program made headlines last year when it was launched, offering some relief to first-time buyers hit by soaring house prices and mortgage rates. An initial $25 million bond issuance backed by both the Pima IDA and the Tucson IDA, has since spawned near 400 home loans in Pima county, a boon in a market that had many priced out.

"We're honored to receive this national recognition for this highly successful local bond program," said Quihuis in a statement, as per Pima County's official news release. The program is not just about providing funds but also pairing them with a below-market fixed mortgage rate and a forgivable down payment loan, truly a lifeline for those on the house hunt.

Adding to the PimaTucson Lighthouse initiative, the Pima IDA also supports local homebuyers with programs like the ongoing Pima Tucson Homebuyers Solution and Single Family Mortgage Credit Certificates. Each one, designed to layer on the assistance and keep the American Dream accessible to more families. "Combined with the on-going program entitled Pima Tucson Homebuyers Solution and the Pima IDA's Single Family Mortgage Credit Certificates, this reflects Pima County's focus on affordable housing," said Quihuis.

The honor bestowed by NALHFA is not just a pat on the back but a recognition of mission-driven work providing housing aid to those in need. Meanwhile, Pima County homebuyers and lenders interested in participating in the Lighthouse program can snag all the info they need at the program's website or look into other aid options through the Pima IDA's other offerings.