IHCDA Board Approves Funding to Preserve over 800 Units of Affordable Housing
At the March IHCDA Board of Directors Meeting, the Board approved Bond Volume/ 4% Credits to preserve over 800 units of affordable housing in the cities of Bloomington, Evansville, and Indianapolis, with a total development cost of $78 million.
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Regency Park Apartments is the rehabilitation of an apartment complex on the south side of Indianapolis creating 304 units of affordable housing. The project was awarded $19,000,000 in bond volume, $1,276,118 in LIHTC and $1,000,000 in Development Fund.
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Limestone Crossing Apartments is the rehabilitation of the existing Canterbury House Apartments tax credit project in Bloomington. The 208 unit project was awarded $18,890,000 in bond volume and $852,100 in LIHTC.
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Carriage House Evansville is the rehabilitation of two existing properties with project based Section 8 vouchers to preserve 307 total units. It was awarded $21,800,000 in bond volume and $1,168,024 in LIHTC.
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2020-2021 Qualified Allocation Plan
On February 15, 2019, the Real Estate Department released the 2nd draft of the 2020-2021 QAP and held a public hearing on February 26, 2019. Based on written comments, public comments, and continued internal policy discussions, modifications were made to the final draft. At the March 28, 2019 Board of Directors Meeting, the Board approved the final draft of the 2020-2021 Qualified Allocation Plan (QAP) and its submission to Governor Holcomb for execution.
2019 Indiana Supportive Housing Institute
The 10th Indiana Supportive Housing Institute kicked off earlier this month in Bloomington. Each of the teams selected to participate in this year’s Institute will spend a total of 11 days in intensive training. The Institute will culminate in June when the teams share plans for creating a new permanent supportive housing development.
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CreatINg Places Update
Three new CreatINg Places crowdfunding campaigns launched in March (listed below). If they meet their goal, they will receive matching funds from IHCDA.
Since the CreatINg Places program began in 2016, more than 60 projects have generted just under $2 million in public funds and an additional $1.7 million in matching IHCDA funds. Please contact Carmen Lethig, Placemaking Manager, at clethig@ihcda.in.gov for more information.
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What Homebuyer Program Is Right For You?
Are you or someone you know in the market to buy a home? If so, please take a few minutes to see if you are eligible for one of our homebuyer programs. For more information about the programs offered by IHCDA, please visit homeownership.in.gov.
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CSH Supportive Housing Summit 2019
CSH, a recognized leader in supportive housing solutions, is hosting its national CSH Summit 2019 in Indianapolis on April 30 – May 2, 2019. For more information and to register, click here. |
