2018 Rental Housing Tax Credits Announced
The Indiana Housing and Community Development Authority (IHCDA) is empowered to act as the housing credit agency for the State to administer, operate, and manage the allocation of the Internal Revenue Service Section 42 Low-Income Housing Tax Credit (LIHTC) program, also known as the Rental Housing Tax Credits (RHTC). The purpose of the RHTC is to incentivize private developers and investors to provide more affordable rental housing options. This is done through new construction, adaptive reuse and rehabilitation of existing structures.
At today's IHCDA Board of Directors Meeting, chaired by Lt. Governor Suzanne Crouch, the Real Estate Department presented their recommendations for the 2018 RHTC Awards.
Upon completion of the due diligence process it was determined that 47 applicants met the 2018-19 Qualified Allocation Plan (QAP) criteria. 17 of these applicants received RHTCs and nine received additional IHCDA financing.
The 17 projects selected combined for just over $14.4 million in RHTCs and $5.5 million in additional funding from the Development Fund, HOME and Housing Trust Fund are highlighted below. These developments will provide over 800 additional units of affordable housing options for residents throughout Indiana.
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Biggs Workforce Housing
Columbia City / Fort Wayne (Whitley County / Allen County)
New construction of 24 single family homes on Blight Elimination Program lots throughout Fort Wayne and the new construction of 24 single family homes on a single site in Columbia City by Biggs TC Development, LLC, creating 48 units of workforce housing. Awarded $921,524 in RHTCs. |
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Blue Mozingo
Indianapolis (Marion County)
Rehabilitation of the Blue Triangle from 96 single room occupancy units into 44 efficiency apartments and the renovation of Mozingo Place into a 28 unit complex by Partners in Housing Development Corporation, creating 72 units of affordable rental housing. Awarded $1,134,438 in RHTCs and $500,000 from the Development Fund. |
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Boonville Homes
Boonville (Warrick County)
The new construction of 22 one and two-bedroom apartments, nine lease purchase townhomes (2br & 3br), and 13 lease purchase single family homes (4br) to create workforce housing in Boonville by MV Affordable Housing. Awarded $1,060,000 in RHTCs and $500,000 from the Development Fund. |
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Central Lofts
Evansville (Vanderburgh County)
Adaptive reuse of a historic former YMCA building in downtown Evansville, creating 62 affordable apartment units by AP Development LLC. Awarded $1,149,319 in RHTCs. |
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Edinburgh Commons
Edinburgh (Johnson County)
Rehabilitation of Country Place Apartments, an existing 24 unit USDA RD 515 property by Woda Cooper Development, Inc., preserving the 24 unit multifamily affordable housing development. Awarded $271,426 in RHTCs. |
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German Church Senior Apartments
Town of Cumberland (Marion County)
New Construction of 60 affordable two-bedroom apartments in the Town of Cumberland by T&H Investment Properties, LLC and TWG Development, LLC. Awarded $886,849 in RHTCs and $500,000 from the Development Fund. |
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Miller Parrott Lofts
Terre Haute (Vigo County)
Adaptive Reuse of the former Miller Parrott Baking building by The Sisters of Providence of Saint Mary-of-the-Woods and Vision Communities, creating 54 affordable units for seniors. Awarded $870,000 in RHTCs and $500,000 from the Development Fund. |
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Neighborhood Homes & Apartments
Columbia City / Fort Wayne (Whitley County / Allen County)
New construction of 25 single family homes on Blight Elimination Program lots throughout Fort Wayne and the new construction of Van Buren Flats, a 25 unit building on a vacant lot in downtown Columbia City, creating 50 units of affordable family housing by SCAN, Inc. and Biggs TC Development LLC. Twelve units will be reserved for people with intellectual or developmental disabilities. Awarded $1,188,503 in RHTCs. |
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Otterbein Commons
Otterbein (Tippecanoe County)
Otterbein Commons is the adaptive reuse of a former nursing home with a new construction element to create 32 units of family housing by Area IV Development, Inc. and Keller Development, Inc. Seven units will be reserved for people with intellectual or developmental impairments. Awarded $526,000 in RHTCs. |
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River View
Vincennes (Knox County)
River View is the new construction of 44 units by Advantix Development Corporation and Myszak & Palmer, Inc. It will be comprised of 22 one bedroom units in a multi-family building and 22 three bedroom single-family scattered-site units. Awarded $730,000 in RHTCs, $500,000 from the Development Fund and $400,000 in HOME funds. |
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River's Edge
Fort Wayne (Allen County)
River’s Edge is the new construction of 56 permanent supportive housing units in Fort Wayne by UP Development, LLC. Awarded $1,200,000 in RHTCs, $500,000 from the Development Fund and $400,000 from the Housing Trust Fund. |
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Slocum Pointe
Fort Wayne (Allen County)
Adaptive reuse of the former Frances Slocum school and new construction addition by Brightpoint and Keller Development, creating a 43 unit multifamily affordable housing development. Awarded $650,000 in RHTCs. |
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Tipton Senior Apartments
Tipton (Tipton County)
New construction of 49 units of affordable housing for seniors by Midwest Support Foundation and TWG Development. Awarded $765,627 in RHTCs and $500,000 from the Development Fund.
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Trailside Townhomes
Kokomo (Howard County)
New construction of 45 units of affordable lease purchase housing by Advantix Development Corporation. Awarded $742,500 in RHTCs, $400,000 in HOME funds and $500,000 from the Development Fund.
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Union Place Apartments
Lafayette (Tippecanoe County)
New construction of a 40-unit permanent supportive housing development by Lafayette Transitional Housing Center, Inc. and Keller Development, Inc. Awarded $828,148 in RHTCs.
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Wagon Works
Huntingburg (Dubois County)
The new construction of 56 affordable, studio, one-bedroom, and two-bedroom apartments near downtown Huntingburg by Paragus Development, LLC, fulfilling one of the goals of Huntingburg’s 2014 Stellar Strategic Investment Plan. Awarded $794,541 in RHTCs. |
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Warren Village II
Terre Haute (Vigo County)
Warren Village II is the new construction of 40 affordable housing units by Low Income Housing Development Corporation of Terre Haute. 20 one-bedroom units will be in a single-story multifamily building and 20 three-bedroom single-family units will be on scattered sites. Awarded $702,615 in RHTCs and $310,000 from the Development Fund. |
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