IHCDA COVID-19 update: A message from Jake

From Jake's Desk

IHCDA COVID-19 update: A message from Jake

It was a busy week for us at the Indiana Housing and Community Development Authority (IHCDA). For this week’s note, I wanted to quickly run through some of these important updates with you:

  1. $15 million added to the COVID-19 Rental Assistance ProgramGovernor Eric Holcomb announced this week that the state will allocate an additional $15 million to the COVID-19 Rental Assistance Program. This brings the total for the program to $40 million. This will allow us to provide rental assistance to more than 19,000 Hoosier renters living outside of Marion County. For more information, renters and landlords should visit indianahousingnow.org. Renters living in Marion County should visit: www.indyrent.org
  2. $7 million in funding awarded from HUD – The U.S. Department of Housing and Urban Development (HUD) notified us this week that we were awarded $7 million to support low-income persons with disabilities access affordable housing through their Section 811 Supportive Housing for Persons with Disabilities program. We will work closely with the Indiana Family and Social Services Administration (FSSA) to identify, refer and conduct outreach to persons with disabilities who require long-term services to live independently. The funding will allow us to provide rental subsidies to multifamily properties with units targeted specifically for use by extremely low-income persons with disabilities.
  3. Evictions, foreclosures, and utility moratoriums will expire on August 14th – Governor Holcomb also announced this week that he intends to allow the rental property eviction and foreclosure moratorium and ban on disconnecting utility services to expire on August 14th. He reminded Hoosiers during his weekly press conference that several programs at the state and local levels, including the COVID-19 Rental Assistance Program, are available for individuals in need of assistance. For information about available programs, along with answers to frequently asked questions, please see the Coronavirus Eviction and Foreclosure Prevention Guide.
  4. New program for landlords and renters – A new program is being developed by the Indiana Office of Judicial Administration to provide a neutral third-party facilitator to help landlords and tenants handle eviction lawsuits. This service will be available for no cost to tenants and landlords. The goal is to further increase housing stability and avoid any further court action. Additional information about this program will be announced in the coming weeks.
  5. Aaa bond rating – One of the ways that we support communities is through our homebuyer programs that help make purchasing a home more affordable for Hoosiers. We do this through the issuance of single-family mortgage revenue bonds. We are pleased to announce that Moody’s has once again assigned us with a Aaa bond rating. We would like to thank our bond counsel, Ice Miller, LLP, along with JPMorgan Chase, cFX, participating lenders and realtors for their support in making the dream of homeownership possible for a growing number of Hoosiers. For more information about our homebuyer programs, please visit: https://www.in.gov/ihcda/4058.htm.

We appreciate your continued support, partnership, and understanding during this time. As you can imagine, our team is very focused on helping individuals financially impacted by COVID-19. While we remain committed to our high standard of customer service, it is taking us a little longer than normal for us to get back with you. Thank you for your patience. Remember, we are #INthistogether.


J. Jacob Sipe
Executive Director

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